Srinivas Akkaraju Acquires 244,300 Shares of Kalaris Therapeutics (NASDAQ:KLRS) Stock

Kalaris Therapeutics Inc. (NASDAQ:KLRS) Director Srinivas Akkaraju purchased 244,300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $4.83 per share, for a total transaction of $1,179,969.00. Following the completion of the purchase, the director owned 2,224,147 shares of the company’s stock, valued at approximately $10,742,630.01. This represents a 12.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kalaris Therapeutics Stock Down 3.9%

Shares of Kalaris Therapeutics stock traded down $0.20 during trading on Friday, reaching $4.92. The company’s stock had a trading volume of 87,157 shares, compared to its average volume of 92,250. Kalaris Therapeutics Inc. has a 12-month low of $2.14 and a 12-month high of $11.88. The business has a 50 day moving average price of $6.01 and a 200-day moving average price of $7.50.

Kalaris Therapeutics (NASDAQ:KLRS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.06. On average, sell-side analysts predict that Kalaris Therapeutics Inc. will post -2.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Kalaris Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Kalaris Therapeutics in the fourth quarter worth about $34,000. Barclays PLC purchased a new stake in shares of Kalaris Therapeutics in the fourth quarter worth about $51,000. Johnson Financial Group Inc. purchased a new stake in shares of Kalaris Therapeutics in the third quarter worth about $58,000. Keel Point LLC purchased a new stake in shares of Kalaris Therapeutics in the fourth quarter worth about $86,000. Finally, XTX Topco Ltd purchased a new stake in shares of Kalaris Therapeutics in the fourth quarter worth about $92,000. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Analyst Ratings Changes

KLRS has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on Kalaris Therapeutics in a report on Thursday, April 16th. They issued an “overweight” rating and a $14.00 price target for the company. Wall Street Zen raised Kalaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Wedbush assumed coverage on Kalaris Therapeutics in a research report on Thursday, May 14th. They set an “outperform” rating and a $17.00 price target for the company. Citizens Jmp lowered their price target on Kalaris Therapeutics from $26.00 to $25.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Citigroup reissued an “outperform” rating on shares of Kalaris Therapeutics in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.60.

Kalaris Therapeutics Company Profile

Allovir, Inc, a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastating viral-associated diseases. The company’s lead product is posoleucel, an allogeneic, off-the-shelf VST therapy, to treat BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus, human herpesvirus 6, and JC virus. Its preclinical and clinical development product candidates include ALVR106 for the respiratory syncytial virus, influenza, parainfluenza virus, and human metapneumovirus; ALVR109 to treat SARS-CoV-2 and COVID-19; ALVR107 for treating hepatitis B; and ALVR108.