KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Down 4% - Should You Sell?

Key Points

• KalVista Pharmaceuticals' stock price fell by 4% to $11.37 during trading, with a trading volume significantly lower than the average daily volume.
• Analyst ratings are mixed, with target prices ranging from $20.00 to $28.00; however, Weiss Ratings issued a "sell" rating, indicating cautious sentiment.
• The company reported a quarterly loss of ($1.12) EPS, below analyst expectations, while its revenue was also lower than anticipated at $1.43 million.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s stock price was down 4% during trading on Monday . The stock traded as low as $11.55 and last traded at $11.37. Approximately 184,772 shares were traded during trading, a decline of 78% from the average daily volume of 856,043 shares. The stock had previously closed at $11.85.

Analyst Ratings Changes

Several analysts recently issued reports on the company. HC Wainwright raised their price target on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a research note on Friday, September 12th. JMP Securities upped their price target on shares of KalVista Pharmaceuticals from $27.00 to $28.00 and gave the stock a "market outperform" rating in a research report on Friday, September 12th. Leerink Partners increased their price objective on shares of KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, July 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of KalVista Pharmaceuticals in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.43.

KalVista Pharmaceuticals Stock Performance

The company's 50 day moving average price is $13.35 and its 200 day moving average price is $12.90. The company has a market cap of $553.70 million, a price-to-earnings ratio of -2.78 and a beta of -0.15.

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

Insider Activity

In related news, CEO Benjamin L. Palleiko sold 32,979 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $15.69, for a total transaction of $517,440.51. Following the completion of the sale, the chief executive officer owned 369,595 shares in the company, valued at $5,798,945.55. This represents a 8.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul K. Audhya sold 2,942 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $13.22, for a total transaction of $38,893.24. Following the completion of the sale, the insider owned 119,841 shares in the company, valued at approximately $1,584,298.02. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,835 shares of company stock valued at $892,350 in the last three months. 4.30% of the stock is owned by insiders.

Institutional Trading of KalVista Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in KalVista Pharmaceuticals by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,626 shares of the specialty pharmaceutical company's stock valued at $165,000 after acquiring an additional 818 shares during the period. BNP Paribas Financial Markets grew its stake in shares of KalVista Pharmaceuticals by 47.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock valued at $46,000 after purchasing an additional 1,292 shares during the period. Rhumbline Advisers raised its holdings in shares of KalVista Pharmaceuticals by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company's stock worth $615,000 after buying an additional 1,458 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of KalVista Pharmaceuticals by 26.8% in 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 buying an additional 2,061 shares in the last quarter. Finally, Corebridge Financial Inc. lifted its position 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 buying an additional 2,149 shares during the period.

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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