Elmind Capital LP Purchases Shares of 801,300 KalVista Pharmaceuticals, Inc. $KALV

Key Points

• Elmind Capital LP disclosed a new fourth-quarter stake in KalVista Pharmaceuticals, buying 801,300 shares valued at about $12.94 million. The position represents 3.8% of Elmind’s holdings and about 1.59% of KalVista’s outstanding shares.
• Several other institutional investors also added to their positions, including Vanguard, State Street, Parkman Healthcare Partners, and Schroder Investment Management, signaling continued hedge fund and asset manager interest in the stock.
• KalVista’s latest results showed a narrower-than-expected loss of ($0.43) per share on revenue of $40.86 million, while analysts currently rate the stock a Hold with a consensus price target of $30.60.

Elmind Capital LP purchased a new stake in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 801,300 shares of the specialty pharmaceutical company's stock, valued at approximately $12,941,000. KalVista Pharmaceuticals comprises 3.8% of Elmind Capital LP's holdings, making the stock its 11th biggest holding. Elmind Capital LP owned about 1.59% of KalVista Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in 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 valued at $30,464,000 after buying an additional 88,720 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in KalVista Pharmaceuticals in the third quarter valued at about $24,360,000. State Street Corp raised its stake in KalVista Pharmaceuticals by 21.3% in the fourth 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 during the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of KalVista Pharmaceuticals by 155.5% in the third quarter. Parkman Healthcare Partners LLC now owns 1,735,003 shares of the specialty pharmaceutical company's stock valued at $21,132,000 after purchasing an additional 1,055,940 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of KalVista Pharmaceuticals by 1.1% in the fourth quarter. Schroder Investment Management Group now owns 1,171,755 shares of the specialty pharmaceutical company's stock valued at $18,924,000 after purchasing an additional 13,298 shares during the period.

KalVista Pharmaceuticals Price Performance

KalVista Pharmaceuticals stock opened at $27.00 on Thursday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -7.80 and a beta of -0.12. KalVista Pharmaceuticals, Inc. has a 52 week low of $9.83 and a 52 week high of $27.00. The business's 50-day moving average price is $24.58 and its 200 day moving average price is $19.11. The company has a quick ratio of 5.10, a current ratio of 5.17 and a debt-to-equity ratio of 8.18.

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 the consensus estimate of ($0.38) by ($0.05). The company had revenue of $40.86 million during the quarter, compared to analysts' expectations of $39.03 million. As a group, sell-side analysts anticipate that KalVista Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Benjamin L. Palleiko sold 10,926 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 $292,598.28. Following the sale, the chief executive officer directly owned 479,989 shares of the company's stock, valued at $12,854,105.42. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $26.78, for a total value of $39,875.42. Following the sale, the insider directly owned 59,291 shares in the company, valued at approximately $1,587,812.98. This trade represents a 2.45% decrease in their ownership of the stock. 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. Insiders sold 254,602 shares of company stock valued at $4,656,670 in the last three months. 4.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. HC Wainwright lowered KalVista Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their price objective for the company from $37.00 to $27.00 in a report on Friday, May 1st. Stifel Nicolaus increased their price objective on KalVista Pharmaceuticals from $39.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Wall Street Zen raised KalVista Pharmaceuticals to a "hold" rating in a report on Saturday, June 13th. Leerink Partners lowered KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 29th. Finally, Needham & Company LLC lowered KalVista Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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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