KalVista Pharmaceuticals (NASDAQ:KALV) Share Price Crosses Below 50 Day Moving Average - What's Next?

Key Points

• KalVista Pharmaceuticals shares traded below their 50-day moving average of $13.53, dropping to a low of $12.18 during trading, reflecting a 2.1% decline.
• Despite the recent drop, analysts maintain a positive outlook, with multiple firms raising their price targets for the stock, indicating a consensus target price of $26.29.
• CEO Benjamin L. Palleiko sold nearly 33,000 shares in a recent insider transaction, reducing his ownership stake in the company while insiders overall have sold 48,878 shares in the last 90 days.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $13.53 and traded as low as $12.18. KalVista Pharmaceuticals shares last traded at $12.25, with a volume of 480,968 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on KALV shares. Leerink Partners increased their price target on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, July 7th. JMP Securities increased their price target on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 8th. Finally, HC Wainwright increased their price target on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $26.29.

KalVista Pharmaceuticals Trading Down 0.5%

The company has a 50 day simple moving average of $13.46 and a 200 day simple moving average of $12.21. The stock has a market capitalization of $643.36 million, a PE ratio of -3.49 and a beta of 0.05.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($2.86). During the same period last year, the business posted ($1.07) earnings per share. On average, equities research analysts predict that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current year.

Insider Activity

In related news, CEO Benjamin L. Palleiko sold 32,979 shares of KalVista Pharmaceuticals stock in a transaction dated 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 in the company, valued at approximately $5,798,945.55. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul K. Audhya sold 2,776 shares of KalVista Pharmaceuticals 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 completion of the transaction, the insider owned 106,611 shares of the company's stock, valued at $1,262,274.24. This trade represents 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 worth $723,617 over the last three months. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its position in KalVista Pharmaceuticals by 3.4% during the 1st quarter. Rhumbline Advisers now owns 52,918 shares of the specialty pharmaceutical company's stock worth $611,000 after purchasing an additional 1,762 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of KalVista Pharmaceuticals by 567.3% in the 1st quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock valued at $51,000 after purchasing an additional 3,767 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of KalVista Pharmaceuticals by 108.8% in the 4th quarter. Bank of America Corp DE now owns 110,050 shares of the specialty pharmaceutical company's stock valued at $932,000 after purchasing an additional 57,356 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of KalVista Pharmaceuticals in the 4th quarter valued at $101,000. Finally, Ameriprise Financial Inc. acquired a new position in KalVista Pharmaceuticals during the 4th quarter worth $452,000.

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).