KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Down 6.5% - Here's Why

Key Points

• KalVista Pharmaceuticals' stock price fell by 6.5% during mid-day trading on Friday, closing at $14.59, with a trading volume consistent with its average.
• Despite the stock's recent decline, analysts remain optimistic; several firms raised their price targets significantly, with the consensus target now at $26.29 and eight analysts giving it a buy rating.
• The company reported a loss of ($3.69) EPS for the latest quarter, missing estimates by ($2.86), indicating ongoing financial challenges amidst its growth potential.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s stock price fell 6.5% on Friday . The stock traded as low as $14.70 and last traded at $14.59. 779,834 shares were traded during trading, a decline of 0% from the average session volume of 782,963 shares. The stock had previously closed at $15.60.

Analyst Ratings Changes

Several research firms have weighed in on KALV. HC Wainwright boosted their price target on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Needham & Company LLC reissued a "buy" rating and set a $28.00 target price on shares of KalVista Pharmaceuticals in a report on Tuesday, April 8th. JMP Securities boosted their price target on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 8th. Finally, Leerink Partners boosted their price target on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, July 7th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, KalVista Pharmaceuticals presently has an average rating of "Buy" and an average target price of $26.29.

KalVista Pharmaceuticals Price Performance

The stock has a 50-day simple moving average of $13.28 and a 200-day simple moving average of $11.79. The stock has a market cap of $686.81 million, a P/E ratio of -3.73 and a beta of -0.04.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($2.86). During the same quarter in the previous year, the company posted ($1.07) earnings per share. As a group, sell-side analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current year.

Insider Activity

In other news, CEO Benjamin L. Palleiko sold 32,979 shares of the 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 sale, the chief executive officer owned 369,595 shares of the company's stock, valued at approximately $5,798,945.55. This represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul K. Audhya sold 2,776 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 48,878 shares of company stock valued at $723,617 over the last quarter. Corporate insiders own 10.50% of the company's stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several large investors have recently added to or reduced their stakes in KALV. Boxer Capital Management LLC acquired a new stake in KalVista Pharmaceuticals during the fourth quarter worth approximately $13,467,000. Octagon Capital Advisors LP acquired a new stake in KalVista Pharmaceuticals during the fourth quarter worth approximately $11,604,000. Frazier Life Sciences Management L.P. grew its stake in KalVista Pharmaceuticals by 32.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company's stock valued at $41,400,000 after acquiring an additional 1,200,000 shares during the period. Stempoint Capital LP acquired a new stake in KalVista Pharmaceuticals in the fourth quarter valued at approximately $8,409,000. Finally, Vestal Point Capital LP grew its stake in KalVista Pharmaceuticals by 19.3% in the fourth quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company's stock valued at $40,402,000 after acquiring an additional 770,000 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).