Armistice Capital LLC Buys New Position in KalVista Pharmaceuticals, Inc. $KALV

Key Points

• Armistice Capital LLC initiated a new position in KalVista Pharmaceuticals, buying 800,000 shares worth about $12.9 million in the fourth quarter, giving it roughly 1.58% ownership.
• Several other institutional investors also increased or established stakes, including Vanguard, State Street, and Parkman Healthcare Partners, signaling continued interest from large funds.
• KalVista shares recently hit a 52-week high of $27.00; the company also reported a quarterly EPS miss despite revenue coming in above expectations, and analysts currently rate the stock a Hold on average.

Armistice Capital LLC bought a new stake in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 800,000 shares of the specialty pharmaceutical company's stock, valued at approximately $12,920,000. Armistice Capital LLC owned approximately 1.58% of KalVista Pharmaceuticals at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of KalVista Pharmaceuticals by 3.7% in the third quarter. Vanguard Group Inc. now owns 2,501,119 shares of the specialty pharmaceutical company's stock worth $30,464,000 after buying an additional 88,720 shares during the period. Tudor Investment Corp ET AL bought a new stake in KalVista Pharmaceuticals in the third quarter valued at $24,360,000. State Street Corp boosted its holdings in shares of KalVista Pharmaceuticals by 21.3% during the 4th quarter. State Street Corp now owns 1,911,691 shares of the specialty pharmaceutical company's stock valued at $30,874,000 after buying an additional 336,195 shares in the last quarter. Parkman Healthcare Partners LLC boosted its holdings in shares of KalVista Pharmaceuticals by 155.5% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,735,003 shares of the specialty pharmaceutical company's stock valued at $21,132,000 after buying an additional 1,055,940 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of KalVista Pharmaceuticals by 1.1% during the 4th quarter. Schroder Investment Management Group now owns 1,171,755 shares of the specialty pharmaceutical company's stock valued at $18,924,000 after buying an additional 13,298 shares in the last quarter.

KalVista Pharmaceuticals Price Performance

NASDAQ KALV opened at $27.00 on Thursday. The company has a debt-to-equity ratio of 8.18, a quick ratio of 5.10 and a current ratio of 5.17. The company has a market capitalization of $1.44 billion, a P/E ratio of -7.80 and a beta of -0.12. KalVista Pharmaceuticals, Inc. has a one year low of $9.83 and a one year high of $27.00. The stock has a 50 day moving average price of $24.58 and a 200-day moving average price of $19.11.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last posted its earnings results on Thursday, May 14th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.05). The firm had revenue of $40.86 million during the quarter, compared to analysts' expectations of $39.03 million. As a group, equities analysts predict that KalVista Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Nicole Sweeny sold 1,489 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $26.78, for a total transaction of $39,875.42. Following the sale, the insider owned 59,291 shares in the company, valued at approximately $1,587,812.98. This represents a 2.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Piekos sold 1,489 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $26.78, for a total value of $39,875.42. Following the completion of the sale, the chief financial officer owned 21,661 shares in the company, valued at approximately $580,081.58. The trade was a 6.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 254,602 shares of company stock worth $4,656,670. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KALV shares. JonesTrading lowered KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 30th. Citizens Jmp lowered KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 29th. Stifel Nicolaus upped their price target on shares of KalVista Pharmaceuticals from $39.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, March 26th. Wall Street Zen raised shares of KalVista Pharmaceuticals to a "hold" rating in a research report on Saturday, June 13th. Finally, Needham & Company LLC downgraded KalVista Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, April 30th. 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.60.

KalVista Pharmaceuticals Profile

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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