Capital World Investors Sells 369,004 Shares of KalVista Pharmaceuticals, Inc. $KALV

Key Points

• Capital World Investors reduced its KalVista Pharmaceuticals stake by 11.6% in the fourth quarter, selling 369,004 shares and leaving it with 2.81 million shares valued at about $45.4 million.
• Insider selling continued, including a 174,645-share sale by major shareholder Venrock Healthcare Capital Par and a smaller sale by CFO Brian Piekos; insiders sold 254,602 shares in the last quarter overall.
• KalVista shares opened at $26.99, near their 12-month high of $27.00, while the company recently reported a narrower-than-expected loss and analysts currently rate the stock Hold on average.

Capital World Investors cut its holdings in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,808,583 shares of the specialty pharmaceutical company's stock after selling 369,004 shares during the period. Capital World Investors owned about 5.56% of KalVista Pharmaceuticals worth $45,359,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of KALV. BNP Paribas Financial Markets grew its holdings in shares of KalVista Pharmaceuticals by 47.0% in the second quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock valued at $46,000 after acquiring an additional 1,292 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of KalVista Pharmaceuticals in the third quarter valued at approximately $55,000. Tower Research Capital LLC TRC grew its holdings in shares of KalVista Pharmaceuticals by 816.8% in the second quarter. Tower Research Capital LLC TRC now owns 8,059 shares of the specialty pharmaceutical company's stock valued at $91,000 after acquiring an additional 7,180 shares in the last quarter. Savant Capital LLC bought a new position in shares of KalVista Pharmaceuticals in the third quarter valued at approximately $141,000. Finally, Sei Investments Co. bought a new position in shares of KalVista Pharmaceuticals in the third quarter valued at approximately $145,000.

Insiders Place Their Bets

In related news, major shareholder Venrock Healthcare Capital Par sold 174,645 shares of the company's stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $16.95, for a total value of $2,960,232.75. Following the transaction, the insider owned 5,129,340 shares in the company, valued at approximately $86,942,313. This represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Piekos sold 1,862 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $20.22, for a total value of $37,649.64. Following the completion of the transaction, the chief financial officer owned 18,150 shares in the company, valued at approximately $366,993. The trade was a 9.30% 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. Insiders have sold 254,602 shares of company stock valued at $4,656,670 in the last quarter. 4.30% of the stock is currently owned by company insiders.

KalVista Pharmaceuticals Price Performance

KalVista Pharmaceuticals stock opened at $26.99 on Wednesday. KalVista Pharmaceuticals, Inc. has a 12 month low of $9.83 and a 12 month high of $27.00. The company has a current ratio of 5.17, a quick ratio of 5.10 and a debt-to-equity ratio of 8.18. The business's 50 day simple moving average is $23.71 and its 200 day simple moving average is $18.54. The company has a market cap 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 posted its quarterly earnings data on Thursday, May 14th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The company had revenue of $40.86 million during the quarter, compared to analyst estimates of $39.03 million. Sell-side analysts forecast that KalVista Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

KALV has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on KalVista Pharmaceuticals from $39.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of KalVista Pharmaceuticals in a report on Tuesday, April 21st. JonesTrading lowered KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 30th. Leerink Partners lowered KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 29th. Finally, Citizens Jmp lowered KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, KalVista Pharmaceuticals presently has an average rating of "Hold" and an average target price of $30.60.

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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