KalVista Pharmaceuticals (NASDAQ:KALV) Shares Down 6.9% - What's Next?

Key Points

• KalVista Pharmaceuticals shares declined by 6.9%, trading at around $12.04 after previously closing at $12.93.
• Several analysts have reaffirmed a buy rating for KalVista, with price targets ranging from $20.00 to $28.00 and a consensus target of $26.43.
• The company reported a loss per share of ($1.12) for the last quarter, missing analysts' expectations, and is projected to post -3.56 earnings per share for the fiscal year.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s stock price was down 6.9% during mid-day trading on Thursday . The company traded as low as $11.70 and last traded at $12.04. Approximately 703,782 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 812,192 shares. The stock had previously closed at $12.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KALV shares. Needham & Company LLC reissued a "buy" rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, September 12th. HC Wainwright increased their price objective on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. JMP Securities raised their price objective on KalVista Pharmaceuticals from $27.00 to $28.00 and gave the stock a "market outperform" rating in a report on Friday, September 12th. Finally, Leerink Partners raised their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, KalVista Pharmaceuticals has an average rating of "Buy" and a consensus price target of $26.43.

KalVista Pharmaceuticals Stock Down 9.0%

The company has a 50 day moving average of $13.83 and a two-hundred day moving average of $12.90. The firm has a market cap of $594.12 million, a P/E ratio of -2.99 and a beta of -0.10.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The specialty pharmaceutical company reported ($1.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.21). The company had revenue of $1.43 million during the quarter, compared to analysts' expectations of $1.97 million. Research analysts expect that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Activity at KalVista Pharmaceuticals

In related news, CEO Benjamin L. Palleiko sold 7,294 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $15.84, for a total transaction of $115,536.96. Following the completion of the transaction, the chief executive officer owned 395,189 shares of the company's stock, valued at approximately $6,259,793.76. The trade was a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul K. Audhya sold 2,336 shares of the company's stock in a transaction 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 transaction, the insider owned 122,505 shares of the company's stock, valued at approximately $1,644,017.10. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,835 shares of company stock valued at $892,350. Corporate insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. acquired a new stake in shares of KalVista Pharmaceuticals during the 2nd quarter worth approximately $248,000. Tower Research Capital LLC TRC boosted its stake in KalVista Pharmaceuticals by 816.8% in the 2nd 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 period. Rafferty Asset Management LLC boosted its position in shares of KalVista Pharmaceuticals by 78.5% during the second quarter. Rafferty Asset Management LLC now owns 46,901 shares of the specialty pharmaceutical company's stock worth $530,000 after buying an additional 20,632 shares during the period. BNP Paribas Financial Markets boosted its holdings in KalVista Pharmaceuticals by 47.0% during the second quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock worth $46,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in shares of KalVista Pharmaceuticals during the 2nd quarter worth about $151,000.

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).

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