KalVista Pharmaceuticals (NASDAQ:KALV) Trading Down 4.4% Following Weak Earnings

Key Points

• KalVista Pharmaceuticals stock dropped by 4.4% after reporting a quarterly earnings miss, with an EPS of ($1.12) compared to expectations of ($0.91).
• The company generated $1.43 million in revenue, falling short of the consensus estimate of $1.97 million.
• Despite the earnings setback, multiple analysts have set price targets for the stock ranging from $20.00 to $28.00, maintaining a general "buy" rating.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s stock price was down 4.4% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $13.65 and last traded at $14.16. Approximately 267,428 shares were traded during trading, a decline of 67% from the average daily volume of 801,309 shares. The stock had previously closed at $14.81.

The specialty pharmaceutical company reported ($1.12) earnings per share 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.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO Benjamin L. Palleiko sold 7,294 shares of KalVista Pharmaceuticals stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.84, for a total value of $115,536.96. Following the sale, the chief executive officer owned 395,189 shares of the company's stock, valued at approximately $6,259,793.76. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul K. Audhya sold 2,336 shares of KalVista Pharmaceuticals stock in a transaction on Monday, August 25th. The stock was sold at an average price of $13.42, for a total transaction of $31,349.12. Following the sale, the insider directly owned 122,505 shares in the company, valued at approximately $1,644,017.10. This trade represents a 1.87% 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 worth $892,350 in the last ninety days. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KALV. Earned Wealth Advisors LLC acquired a new stake in KalVista Pharmaceuticals in the 1st quarter worth about $44,000. BNP Paribas Financial Markets raised its position in KalVista Pharmaceuticals by 47.0% in the second quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock worth $46,000 after acquiring an additional 1,292 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of KalVista Pharmaceuticals by 567.3% during the 1st quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock worth $51,000 after acquiring an additional 3,767 shares in the last quarter. CWM LLC lifted its holdings in shares of KalVista Pharmaceuticals by 12,636.1% during 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 during the last quarter. Finally, Virtus Investment Advisers LLC acquired a new position in KalVista Pharmaceuticals during the second quarter valued at $81,000.

KalVista Pharmaceuticals Stock Up 1.8%

The stock has a market capitalization of $694.55 million, a price-to-earnings ratio of -3.51 and a beta of -0.10. The firm has a 50-day moving average of $14.08 and a two-hundred day moving average of $12.84.

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).