Seven Fleet Capital Management LP Buys New Stake in KalVista Pharmaceuticals, Inc. $KALV

Key Points

• Seven Fleet Capital Management opened a new position in KalVista Pharmaceuticals, buying 48,412 shares worth about $782,000 in the fourth quarter. Several other hedge funds also increased or initiated stakes in the biotech company.
• Insider selling picked up recently, with CEO Benjamin L. Palleiko and insider Paul K. Audhya both selling shares in May. The company said the sales were tied to tax withholding obligations related to vesting equity awards.
• KalVista reported a quarterly EPS loss of $0.43, wider than analysts expected, though revenue of $40.86 million beat estimates. Analysts currently rate the stock a consensus Hold with an average price target of $30.60.

Seven Fleet Capital Management LP purchased a new position in shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 48,412 shares of the specialty pharmaceutical company's stock, valued at approximately $782,000. Seven Fleet Capital Management LP owned 0.10% of KalVista Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KALV. Tudor Investment Corp ET AL purchased a new position in KalVista Pharmaceuticals during the third quarter worth about $24,360,000. Vestal Point Capital LP grew its stake in shares of KalVista Pharmaceuticals by 152.0% during the fourth quarter. Vestal Point Capital LP now owns 1,890,000 shares of the specialty pharmaceutical company's stock valued at $30,524,000 after acquiring an additional 1,140,000 shares in the last quarter. Parkman Healthcare Partners LLC increased its holdings in 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 worth $21,132,000 after purchasing an additional 1,055,940 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of KalVista Pharmaceuticals by 2,258.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 945,125 shares of the specialty pharmaceutical company's stock worth $10,685,000 after purchasing an additional 905,053 shares during the last quarter. Finally, Elmind Capital LP bought a new stake in shares of KalVista Pharmaceuticals in the 4th quarter valued at approximately $12,941,000.

Insider Activity

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 10,926 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $26.78, for a total value of $292,598.28. Following the completion of the sale, the chief executive officer owned 479,989 shares in the company, valued at approximately $12,854,105.42. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Paul K. Audhya sold 2,239 shares of KalVista Pharmaceuticals stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $26.78, for a total value of $59,960.42. Following the completion of the sale, the insider directly owned 150,260 shares of the company's stock, valued at $4,023,962.80. This trade represents a 1.47% 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 a total of 254,602 shares of company stock valued at $4,656,670 over the last three months. 4.30% of the stock is owned by corporate insiders.

KalVista Pharmaceuticals Price Performance

KALV opened at $27.00 on Friday. The company has a debt-to-equity ratio of 8.18, a current ratio of 5.17 and a quick ratio of 5.10. The firm's fifty day moving average price is $24.72 and its two-hundred day moving average price is $19.20. 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 fifty-two week low of $9.83 and a fifty-two week high of $27.00.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Needham & Company LLC downgraded KalVista Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 21st. 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. HC Wainwright cut shares of KalVista Pharmaceuticals from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $37.00 to $27.00 in a report on Friday, May 1st. Finally, Leerink Partners downgraded shares of KalVista Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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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