KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) shares gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $15.51, but opened at $14.88. KalVista Pharmaceuticals shares last traded at $14.46, with a volume of 331,384 shares.
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 in the prior year, the company posted ($1.07) earnings per share.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. HC Wainwright lifted their price objective on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Jones Trading reaffirmed a "buy" rating and set a $30.00 price objective on shares of KalVista Pharmaceuticals in a research note on Wednesday, March 26th. Leerink Partners lifted their price objective on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, July 7th. Finally, JMP Securities lifted their price objective on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $26.29.
Get Our Latest Report on KalVista Pharmaceuticals
Insider Transactions at KalVista Pharmaceuticals
In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 32,979 shares of the business's 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 of the company's stock, valued at approximately $5,798,945.55. The trade was 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 accessible through the SEC website. Also, insider Paul K. Audhya sold 2,776 shares of the business's stock in a transaction dated Monday, May 19th. The shares were 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 approximately $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. Over the last three months, insiders sold 48,878 shares of company stock valued at $723,617. Insiders own 10.50% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KALV. Aquatic Capital Management LLC acquired a new position in KalVista Pharmaceuticals in the fourth quarter valued at about $44,000. Earned Wealth Advisors LLC bought a new stake in shares of KalVista Pharmaceuticals in the first quarter valued at about $44,000. GAMMA Investing LLC lifted its holdings in shares of KalVista Pharmaceuticals by 567.3% in the first 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 in the last quarter. CWM LLC lifted its holdings in shares of 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 purchasing an additional 4,549 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings 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 valued at $54,000 after purchasing an additional 5,502 shares in the last quarter.
KalVista Pharmaceuticals Stock Down 6.4%
The company has a market capitalization of $721.93 million, a P/E ratio of -3.93 and a beta of -0.04. The business has a fifty day moving average price of $12.57 and a 200 day moving average price of $11.25.
KalVista Pharmaceuticals Company Profile
(
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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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