KalVista Pharmaceuticals (NASDAQ:KALV) Shares Down 3.2% - Should You Sell?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) shares dropped 3.2% during trading on Thursday . The stock traded as low as $11.25 and last traded at $11.31. Approximately 215,100 shares were traded during trading, a decline of 64% from the average daily volume of 599,563 shares. The stock had previously closed at $11.68.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KALV shares. Jones Trading reiterated a "buy" rating and issued a $30.00 target price on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of KalVista Pharmaceuticals in a research report on Friday, March 14th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $24.83.

KalVista Pharmaceuticals Stock Down 4.4%

The business has a 50-day moving average price of $12.50 and a 200-day moving average price of $10.87. The firm has a market capitalization of $555.12 million, a price-to-earnings ratio of -2.99 and a beta of -0.01.

Insider Activity at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, insider Paul K. Audhya sold 2,776 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.84, for a total transaction of $32,867.84. Following the sale, the insider now owns 106,611 shares in the company, valued at approximately $1,262,274.24. The trade was a 2.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Venrock Healthcare Capital Par acquired 25,000 shares of the business's stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average cost of $9.42 per share, for a total transaction of $235,500.00. Following the completion of the acquisition, the insider now directly owns 5,303,985 shares of the company's stock, valued at approximately $49,963,538.70. This trade represents a 0.47% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 15,899 shares of company stock valued at $206,176 in the last ninety days. Corporate insiders own 10.50% of the company's stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of KALV. Aquatic Capital Management LLC purchased a new position in shares of KalVista Pharmaceuticals during the fourth quarter worth $44,000. Earned Wealth Advisors LLC purchased a new stake in KalVista Pharmaceuticals during the first quarter worth $44,000. GAMMA Investing LLC grew its position in KalVista Pharmaceuticals by 567.3% during the first quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock valued at $51,000 after buying an additional 3,767 shares during the period. CWM LLC increased its holdings in KalVista Pharmaceuticals by 12,636.1% in the first quarter. CWM LLC now owns 4,585 shares of the specialty pharmaceutical company's stock valued at $53,000 after buying an additional 4,549 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of KalVista Pharmaceuticals by 666.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company's stock worth $54,000 after acquiring an additional 5,502 shares during the period.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.