Benjamin L. Palleiko Sells 7,294 Shares of KalVista Pharmaceuticals (NASDAQ:KALV) Stock

Key Points

• CEO Benjamin Palleiko sold 7,294 shares of KalVista Pharmaceuticals at an average price of $15.84, reducing his ownership by 1.81% to approximately 395,189 shares.
• The company reported a significant earnings miss for the previous quarter, with an EPS of (3.69), failing to meet analysts' expectations of (0.83).
• Analysts have increased their price targets for KalVista Pharmaceuticals, with several firms rating the stock as a "buy" and a consensus price target of $26.29.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) CEO Benjamin L. Palleiko sold 7,294 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.84, for a total value of $115,536.96. Following the completion of the sale, the chief executive officer directly owned 395,189 shares in the company, valued at approximately $6,259,793.76. This represents a 1.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

KalVista Pharmaceuticals Stock Performance

KalVista Pharmaceuticals stock traded down $0.80 on Friday, reaching $14.01. The company's stock had a trading volume of 2,227,241 shares, compared to its average volume of 964,146. The company has a market cap of $707.79 million, a price-to-earnings ratio of -3.56 and a beta of -0.10. The business's fifty day moving average price is $14.14 and its 200 day moving average price is $12.82. KalVista Pharmaceuticals, Inc. has a twelve month low of $7.30 and a twelve month high of $17.28.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The specialty pharmaceutical company reported ($1.12) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.21). The business had revenue of $1.43 million during the quarter, compared to the consensus estimate of $1.97 million. As a group, equities analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current year.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several large investors have recently modified their holdings of the business. Suvretta Capital Management LLC increased its holdings in shares of KalVista Pharmaceuticals by 16.6% in the fourth quarter. Suvretta Capital Management LLC now owns 4,913,012 shares of the specialty pharmaceutical company's stock worth $41,613,000 after acquiring an additional 701,007 shares in the last quarter. Tang Capital Management LLC increased its holdings in shares of KalVista Pharmaceuticals by 13.2% in the fourth quarter. Tang Capital Management LLC now owns 4,893,847 shares of the specialty pharmaceutical company's stock worth $41,451,000 after acquiring an additional 572,300 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of KalVista Pharmaceuticals by 32.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company's stock worth $41,400,000 after acquiring an additional 1,200,000 shares in the last quarter. Vestal Point Capital LP increased its holdings in shares of KalVista Pharmaceuticals by 19.3% in the fourth quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company's stock worth $40,402,000 after acquiring an additional 770,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of KalVista Pharmaceuticals by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,298,598 shares of the specialty pharmaceutical company's stock worth $26,526,000 after acquiring an additional 43,355 shares in the last quarter.

Analyst Ratings Changes

KALV has been the subject of a number of recent research reports. HC Wainwright boosted their target price on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a report on Friday. Leerink Partners upped their price objective on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, July 7th. Finally, JMP Securities upped their price objective on KalVista Pharmaceuticals from $27.00 to $28.00 and gave the company a "market outperform" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $26.43.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of drug therapies inhibitors for diseases with unmet needs. The company's product candidate is Sebetralstat, a small molecule plasma kallikrein inhibitor targeting the disease of hereditary angioedema (HAE).