Kailera Therapeutics (NASDAQ:KLRA) Shares Down 11% – Should You Sell?

Kailera Therapeutics, Inc. (NASDAQ:KLRA)’s stock price traded down 11% during trading on Tuesday . The stock traded as low as $19.90 and last traded at $20.74. 392,649 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 815,587 shares. The stock had previously closed at $23.30.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen cut Kailera Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Leerink Partners began coverage on Kailera Therapeutics in a research note on Tuesday, May 12th. They set an “outperform” rating and a $36.00 target price for the company. Jefferies Financial Group initiated coverage on Kailera Therapeutics in a report on Tuesday, May 12th. They set a “buy” rating and a $48.00 price target on the stock. Zacks Research raised Kailera Therapeutics to a “hold” rating in a research report on Wednesday, May 13th. Finally, William Blair started coverage on Kailera Therapeutics in a research note on Tuesday, May 12th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Kailera Therapeutics has an average rating of “Buy” and a consensus target price of $42.75.

Kailera Therapeutics Stock Performance

The stock has a market cap of $2.82 billion and a P/E ratio of -0.01. The business has a fifty day moving average of $21.46.

Kailera Therapeutics (NASDAQ:KLRA) last announced its quarterly earnings data on Tuesday, May 26th. The company reported ($3,650.00) earnings per share for the quarter.

Insider Activity at Kailera Therapeutics

In other Kailera Therapeutics news, Director Adam Koppel purchased 1,562,500 shares of the business’s stock in a transaction on Monday, April 20th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director directly owned 22,583,268 shares in the company, valued at approximately $361,332,288. This represents a 7.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Rtw Investments, Lp purchased 500,000 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were acquired at an average cost of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the acquisition, the insider directly owned 10,776,820 shares in the company, valued at $172,429,120. The trade was a 4.87% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 10,460,938 shares of company stock valued at $167,375,008 over the last quarter.

Kailera Therapeutics Company Profile

We are an advanced clinical-stage biotechnology company focused on elevating the next era of obesity care by advancing a diversified pipeline to provide options for people living with obesity no matter where they are in their treatment journey. Obesity is a chronic, progressive and debilitating disease that impacts over 1 billion people globally and requires long-term comprehensive treatment. Since obesity is the driving factor for more than 200 comorbidities and represents a significant contributor to increased morbidity and mortality, our vision is to deliver category-leading obesity management medications that give people the power to restore their health and transform their lives.