KalVista Pharmaceuticals, Inc. $KALV Shares Sold by Vestal Point Capital LP

Key Points

• Vestal Point Capital LP reduced its holding in KalVista Pharmaceuticals by 0.4%, retaining approximately 4.75 million shares valued at about $54.83 million, making it the 6th largest position in its portfolio.
• Analysts are optimistic about KalVista Pharmaceuticals, with multiple firms raising their price targets to a consensus average of $26.29 and a general rating of "Buy".
• CEO Benjamin L. Palleiko recently sold nearly 11,000 shares of the company, marking a 2.75% decrease in his personal holdings, highlighting insider activity amidst fluctuating share prices.

Vestal Point Capital LP lessened its holdings in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,751,292 shares of the specialty pharmaceutical company's stock after selling 18,708 shares during the period. KalVista Pharmaceuticals accounts for approximately 3.9% of Vestal Point Capital LP's portfolio, making the stock its 6th largest holding. Vestal Point Capital LP owned approximately 9.56% of KalVista Pharmaceuticals worth $54,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Quarry LP purchased a new stake in shares of KalVista Pharmaceuticals in the first quarter valued at about $97,000. Ieq Capital LLC purchased a new stake in shares of KalVista Pharmaceuticals in the first quarter valued at about $126,000. Corebridge Financial Inc. lifted its holdings in shares of KalVista Pharmaceuticals by 12.7% in the first quarter. Corebridge Financial Inc. now owns 19,094 shares of the specialty pharmaceutical company's stock valued at $220,000 after purchasing an additional 2,149 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of KalVista Pharmaceuticals by 13.2% in the first quarter. MetLife Investment Management LLC now owns 21,688 shares of the specialty pharmaceutical company's stock valued at $250,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new stake in shares of KalVista Pharmaceuticals in the first quarter valued at about $249,000.

Insider Activity at KalVista Pharmaceuticals

In related news, CEO Benjamin L. Palleiko sold 32,979 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $15.69, for a total transaction of $517,440.51. Following the completion of the transaction, the chief executive officer owned 369,595 shares of the company's stock, valued at approximately $5,798,945.55. This represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul K. Audhya sold 2,942 shares of the company'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 $38,893.24. Following the transaction, the insider directly owned 119,841 shares of the company's stock, valued at $1,584,298.02. This trade represents a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,710 shares of company stock valued at $880,764 in the last ninety days. 4.30% of the stock is currently owned by company insiders.

KalVista Pharmaceuticals Stock Up 4.1%

Shares of KALV traded up $0.62 on Friday, hitting $15.82. 1,079,460 shares of the stock traded hands, compared to its average volume of 704,870. The firm has a market capitalization of $796.38 million, a P/E ratio of -4.29 and a beta of -0.10. The stock's 50 day moving average is $13.79 and its two-hundred day moving average is $12.66. KalVista Pharmaceuticals, Inc. has a 1 year low of $7.30 and a 1 year high of $16.32.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($2.86). During the same quarter last year, the firm earned ($1.07) EPS. Research analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current year.

Wall Street Analyst Weigh In

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

KalVista Pharmaceuticals 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).