KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) issued its earnings results on Thursday. The specialty pharmaceutical company reported ($3.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($2.86), RTT News reports. During the same quarter in the prior year, the business posted ($1.07) earnings per share.
KalVista Pharmaceuticals Stock Performance
Shares of KalVista Pharmaceuticals stock traded down $0.99 during midday trading on Friday, reaching $14.52. 2,085,829 shares of the company's stock traded hands, compared to its average volume of 572,060. KalVista Pharmaceuticals has a 52 week low of $7.30 and a 52 week high of $16.32. The company's 50 day simple moving average is $12.57 and its 200 day simple moving average is $11.26. The company has a market cap of $725.27 million, a price-to-earnings ratio of -3.93 and a beta of -0.04.
Insiders Place Their Bets
In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 32,979 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.69, for a total transaction of $517,440.51. Following the transaction, the chief executive officer directly owned 369,595 shares in the company, valued at $5,798,945.55. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul K. Audhya sold 2,776 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.84, for a total value of $32,867.84. Following the sale, the insider owned 106,611 shares of the company's stock, valued at approximately $1,262,274.24. This trade represents a 2.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,878 shares of company stock valued at $723,617 over the last quarter. 10.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On KalVista Pharmaceuticals
A number of large investors have recently added to or reduced their stakes in KALV. Goldman Sachs Group Inc. grew its position in shares of KalVista Pharmaceuticals by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 339,936 shares of the specialty pharmaceutical company's stock valued at $3,923,000 after purchasing an additional 12,263 shares during the last quarter. AQR Capital Management LLC bought a new stake in KalVista Pharmaceuticals during the 1st quarter valued at approximately $646,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in KalVista Pharmaceuticals by 13.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,325 shares of the specialty pharmaceutical company's stock valued at $281,000 after buying an additional 2,939 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on KALV. JMP Securities boosted 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 report on Tuesday, July 8th. HC Wainwright lifted their target price on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Leerink Partners boosted 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Jones Trading reiterated a "buy" rating and set a $30.00 price objective on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $26.29.
Get Our Latest Stock Analysis on KALV
About KalVista Pharmaceuticals
(
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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).
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