387,968 Shares in KalVista Pharmaceuticals, Inc. $KALV Bought by Spruce Street Capital LP

Key Points

• Spruce Street Capital LP opened a new position in KalVista Pharmaceuticals, buying 387,968 shares worth about $6.27 million. The stake represents 0.77% of the company and 2.1% of Spruce Street’s portfolio.
• Insider selling has been active, with CFO Brian Piekos and insider Nicole Sweeny each selling 1,489 shares at $26.78 to cover tax withholding tied to equity awards. Over the past 90 days, insiders have sold 254,602 shares worth $4.66 million.
• Analysts have turned more cautious on KALV, with several firms downgrading the stock to Hold or Neutral and one issuing a Sell rating. The consensus rating is Hold, with an average price target of $30.60.

Spruce Street Capital LP acquired a new position in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 387,968 shares of the specialty pharmaceutical company's stock, valued at approximately $6,266,000. KalVista Pharmaceuticals makes up 2.1% of Spruce Street Capital LP's holdings, making the stock its 19th largest holding. Spruce Street Capital LP owned 0.77% of KalVista Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new stake in shares of KalVista Pharmaceuticals in the third quarter worth $24,360,000. Jefferies Financial Group Inc. purchased a new stake in shares of KalVista Pharmaceuticals in the third quarter worth $3,494,000. Blue Owl Capital Holdings LP purchased a new stake in shares of KalVista Pharmaceuticals in the third quarter worth $1,522,000. Hennion & Walsh Asset Management Inc. raised its position in shares of KalVista Pharmaceuticals by 93.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 341,819 shares of the specialty pharmaceutical company's stock worth $5,520,000 after buying an additional 165,236 shares in the last quarter. Finally, F m Investments LLC raised its position in shares of KalVista Pharmaceuticals by 18.8% in the fourth quarter. F m Investments LLC now owns 236,690 shares of the specialty pharmaceutical company's stock worth $3,823,000 after buying an additional 37,486 shares in the last quarter.

Insider Transactions at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CFO Brian Piekos sold 1,489 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $26.78, for a total transaction of $39,875.42. Following the sale, the chief financial officer owned 21,661 shares in the company, valued at $580,081.58. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Nicole Sweeny sold 1,489 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $26.78, for a total value of $39,875.42. Following the sale, the insider owned 59,291 shares in the company, valued at $1,587,812.98. The trade was a 2.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 254,602 shares of company stock worth $4,656,670. Company insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KALV shares. JonesTrading downgraded KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 30th. HC Wainwright downgraded KalVista Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $37.00 to $27.00 in a research report on Friday, May 1st. Needham & Company LLC downgraded KalVista Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, April 30th. Citizens Jmp downgraded KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, KalVista Pharmaceuticals has a consensus rating of "Hold" and an average target price of $30.60.

KalVista Pharmaceuticals Stock Performance

NASDAQ KALV opened at $27.00 on Tuesday. The stock's 50-day simple moving average is $24.30 and its two-hundred day simple moving average is $18.93. KalVista Pharmaceuticals, Inc. has a twelve month low of $9.83 and a twelve month high of $27.00. The company has a quick ratio of 5.10, a current ratio of 5.17 and a debt-to-equity ratio of 8.18. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -7.80 and a beta of -0.12.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.05). The business had revenue of $40.86 million during the quarter, compared to analyst estimates of $39.03 million. Research analysts forecast that KalVista Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals is a clinical‐stage biotechnology company focused on the discovery and development of small‐molecule protease inhibitors for orphan and specialty disease indications. The firm's scientific platform centers on selective inhibition of plasma kallikrein, a serine protease implicated in disorders characterized by vascular leak, edema and inflammation. KalVista's approach leverages oral and intravitreal delivery formats to target both systemic and ophthalmic conditions.

The company's lead programs include an oral plasma kallikrein inhibitor in clinical trials for the acute treatment of hereditary angioedema (HAE) attacks and an intravitreal kallikrein inhibitor being evaluated for diabetic macular edema.

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