KalVista Pharmaceuticals (NASDAQ:KALV) Issues Quarterly Earnings Results, Misses Estimates By $2.86 EPS

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) posted its quarterly earnings data on Thursday. The specialty pharmaceutical company reported ($3.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($2.86), RTT News reports. During the same period last year, the company posted ($1.07) earnings per share.

KalVista Pharmaceuticals Stock Performance

NASDAQ:KALV traded down $1.26 during trading hours on Friday, reaching $14.26. The stock had a trading volume of 1,359,874 shares, compared to its average volume of 568,651. The stock has a 50 day simple moving average of $12.55 and a 200 day simple moving average of $11.19. KalVista Pharmaceuticals has a 12-month low of $7.30 and a 12-month high of $16.32. The stock has a market cap of $708.76 million, a P/E ratio of -3.84 and a beta of -0.04.

Insiders Place Their Bets

In other news, CEO Benjamin L. Palleiko sold 32,979 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $15.69, for a total value of $517,440.51. Following the completion of the transaction, the chief executive officer directly owned 369,595 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul K. Audhya sold 2,776 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.84, for a total value of $32,867.84. Following the completion of the transaction, the insider directly owned 106,611 shares of the company's stock, valued at $1,262,274.24. The trade was a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,878 shares of company stock valued at $723,617 over the last ninety days. Corporate insiders own 10.50% of the company's stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings 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 worth $3,923,000 after buying an additional 12,263 shares during the period. AQR Capital Management LLC purchased a new position in shares of KalVista Pharmaceuticals during the 1st quarter worth approximately $646,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $281,000 after purchasing an additional 2,939 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KALV shares. Jones Trading reaffirmed a "buy" rating and issued a $30.00 price objective on shares of KalVista Pharmaceuticals in a research report on Wednesday, March 26th. JMP Securities upped their target price on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the company a "market outperform" rating in a research report on Tuesday. Leerink Partners boosted their price target on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday. HC Wainwright upped their target price on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $26.29.

About KalVista Pharmaceuticals

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).