KalVista Pharmaceuticals, Inc. $KALV Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in KalVista Pharmaceuticals by 51.8%, now holding approximately 26,269 shares valued at $303,000.
• Several institutional investors, including Corebridge Financial Inc. and MetLife Investment Management LLC, increased their positions in KalVista, indicating ongoing investor interest.
• KalVista's recent earnings report revealed a significant miss with a loss of $3.69 per share, compared to the expected loss of $0.83, impacting its stock performance.

Rafferty Asset Management LLC cut its position in shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) by 51.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,269 shares of the specialty pharmaceutical company's stock after selling 28,197 shares during the period. Rafferty Asset Management LLC owned 0.05% of KalVista Pharmaceuticals worth $303,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Aquatic Capital Management LLC purchased a new stake in KalVista Pharmaceuticals in the fourth quarter valued at approximately $44,000. Earned Wealth Advisors LLC acquired a new position in KalVista Pharmaceuticals during the 1st quarter valued at $44,000. GAMMA Investing LLC increased its position in shares of KalVista Pharmaceuticals by 567.3% during the 1st quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock worth $51,000 after purchasing an additional 3,767 shares in the last quarter. CWM LLC grew its position in shares of KalVista Pharmaceuticals by 12,636.1% during the 1st quarter. CWM LLC now owns 4,585 shares of the specialty pharmaceutical company's stock worth $53,000 after buying an additional 4,549 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of KalVista Pharmaceuticals by 666.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company's stock valued at $54,000 after buying an additional 5,502 shares during the period.

KalVista Pharmaceuticals Stock Performance

KALV stock traded down $0.40 on Tuesday, hitting $15.57. 191,765 shares of the company's stock were exchanged, compared to its average volume of 786,758. The stock has a market cap of $783.54 million, a P/E ratio of -4.23 and a beta of -0.10. The firm has a 50 day moving average price of $13.89 and a two-hundred day moving average price of $12.70. KalVista Pharmaceuticals, Inc. has a 12-month low of $7.30 and a 12-month high of $16.33.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($2.86). During the same period in the prior year, the firm posted ($1.07) earnings per share. Sell-side analysts expect that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul K. Audhya sold 2,336 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $13.42, for a total value of $31,349.12. Following the completion of the sale, the insider directly owned 122,505 shares in the company, valued at approximately $1,644,017.10. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Benjamin L. Palleiko sold 10,940 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $13.22, for a total transaction of $144,626.80. Following the sale, the chief executive officer directly owned 386,858 shares of the company's stock, valued at approximately $5,114,262.76. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,541 shares of company stock valued at $776,813. Insiders own 4.30% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on KALV. HC Wainwright upped their price objective on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. JMP Securities boosted their target price on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 8th. Finally, Leerink Partners boosted their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $26.29.

KalVista Pharmaceuticals Company Profile

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).