KalVista Pharmaceuticals (NASDAQ:KALV) Shares Pass Below 50-Day Moving Average - Time to Sell?

Key Points

• KalVista Pharmaceuticals shares have fallen below their 50-day moving average of $13.55, currently trading at $12.18.
• Analysts have shown optimism, with price targets raised, including HC Wainwright's increase from $20.00 to $27.00, and an average target of $26.43 among analysts.
• The company reported a quarterly loss of ($1.12) EPS, missing expectations, alongside a revenue of $1.43 million compared to a forecast of $1.97 million.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s share price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $13.55 and traded as low as $11.93. KalVista Pharmaceuticals shares last traded at $12.18, with a volume of 1,136,615 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on KALV shares. HC Wainwright upped their price objective on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Leerink Partners upped their price objective on shares of KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, July 7th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a report on Friday, September 12th. Finally, JMP Securities increased their price target on shares of KalVista Pharmaceuticals from $27.00 to $28.00 and gave the company a "market outperform" rating in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, KalVista Pharmaceuticals currently has an average rating of "Buy" and an average price target of $26.43.

KalVista Pharmaceuticals Stock Performance

The stock's fifty day moving average price is $13.55 and its 200-day moving average price is $12.90. The firm has a market cap of $615.37 million, a PE ratio of -3.09 and a beta of -0.10.

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

Insider Transactions at KalVista Pharmaceuticals

In related news, insider Paul K. Audhya sold 2,336 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $13.42, for a total value of $31,349.12. Following the sale, the insider directly owned 122,505 shares of the company's stock, valued at approximately $1,644,017.10. This represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Benjamin L. Palleiko sold 7,294 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.84, for a total transaction of $115,536.96. Following the completion of the sale, the chief executive officer directly owned 395,189 shares in the company, valued at approximately $6,259,793.76. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,835 shares of company stock worth $892,350. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in shares of KalVista Pharmaceuticals by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,626 shares of the specialty pharmaceutical company's stock worth $165,000 after purchasing an additional 818 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of KalVista Pharmaceuticals by 47.0% during the 2nd 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. Rhumbline Advisers boosted its stake in shares of KalVista Pharmaceuticals by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company's stock worth $615,000 after purchasing an additional 1,458 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of KalVista Pharmaceuticals by 26.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,756 shares of the specialty pharmaceutical company's stock worth $110,000 after purchasing an additional 2,061 shares during the last quarter. Finally, Corebridge Financial Inc. boosted its stake in shares of KalVista Pharmaceuticals by 12.7% during the 1st quarter. Corebridge Financial Inc. now owns 19,094 shares of the specialty pharmaceutical company's stock worth $220,000 after purchasing an additional 2,149 shares during the last quarter.

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).

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