KalVista Pharmaceuticals (NASDAQ:KALV) Releases Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Key Points

• KalVista Pharmaceuticals reported a quarterly loss of ($1.12) per share, missing analysts' estimates of ($0.91) by ($0.21), with revenues of $1.43 million versus a consensus of $1.97 million.
• Insider activity included CEO Benjamin L. Palleiko selling 7,294 shares at an average price of $15.84, reducing his ownership by 1.81%.
• Analysts remain optimistic with multiple firms increasing price targets, giving KalVista Pharmaceuticals a consensus target price of $26.29 and an overall "Buy" rating.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) announced its quarterly earnings results on Thursday. The specialty pharmaceutical company reported ($1.12) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.21), Zacks reports. The firm had revenue of $1.43 million during the quarter, compared to the consensus estimate of $1.97 million.

KalVista Pharmaceuticals Trading Up 2.1%

Shares of NASDAQ KALV traded up $0.28 during mid-day trading on Tuesday, reaching $13.90. The company had a trading volume of 419,401 shares, compared to its average volume of 811,368. KalVista Pharmaceuticals has a 52 week low of $7.30 and a 52 week high of $17.28. The business's 50-day moving average is $14.11 and its 200-day moving average is $12.84. The stock has a market cap of $702.38 million, a price-to-earnings ratio of -3.53 and a beta of -0.10.

Insider Activity

In other news, insider Paul K. Audhya sold 2,336 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $13.42, for a total transaction of $31,349.12. Following the completion of the transaction, the insider directly owned 122,505 shares of the company's stock, valued at $1,644,017.10. The trade was a 1.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Benjamin L. Palleiko sold 7,294 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.84, for a total transaction of $115,536.96. Following the transaction, the chief executive officer directly owned 395,189 shares of the company's stock, valued at approximately $6,259,793.76. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,835 shares of company stock valued at $892,350. Insiders own 4.30% of the company's stock.

Institutional Trading of KalVista Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 1,292 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of KalVista Pharmaceuticals by 816.8% during the second quarter. Tower Research Capital LLC TRC now owns 8,059 shares of the specialty pharmaceutical company's stock worth $91,000 after purchasing an additional 7,180 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in KalVista Pharmaceuticals in the second quarter worth $151,000. The Manufacturers Life Insurance Company raised its position in KalVista Pharmaceuticals by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,626 shares of the specialty pharmaceutical company's stock worth $165,000 after acquiring an additional 818 shares in the last quarter. Finally, Osaic Holdings Inc. acquired a new stake in KalVista Pharmaceuticals in the second quarter valued at $248,000.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KALV shares. HC Wainwright lifted their target price on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. JMP Securities boosted their price target on shares of KalVista Pharmaceuticals from $27.00 to $28.00 and gave the stock a "market outperform" rating in a report on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a research note on Friday. Finally, Leerink Partners increased their price target on shares of KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, KalVista Pharmaceuticals has an average rating of "Buy" and a consensus price target of $26.43.

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).