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 was down 6.5% during mid-day trading on Friday . The stock traded as low as $14.70 and last traded at $14.59. Approximately 779,834 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 782,963 shares. The stock had previously closed at $15.60.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KALV shares. Leerink Partners increased their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, July 7th. HC Wainwright lifted 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. JMP Securities lifted their price target on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 8th. Eight 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, the stock currently has an average rating of "Buy" and a consensus target price of $26.29.

KalVista Pharmaceuticals Trading Down 6.5%

The business has a fifty day moving average of $13.20 and a two-hundred day moving average of $11.66. The company has a market cap of $728.58 million, a price-to-earnings ratio of -3.95 and a beta of -0.04.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) EPS for the quarter, missing the consensus estimate of ($0.83) by ($2.86). During the same quarter in the previous year, the business earned ($1.07) earnings per share. On average, research analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current fiscal year.

Insider Transactions at KalVista Pharmaceuticals

In other news, insider Paul K. Audhya sold 2,776 shares of the business's stock in a transaction dated Monday, May 19th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Benjamin L. Palleiko sold 32,979 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $15.69, for a total value of $517,440.51. Following the sale, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders have sold a total of 48,878 shares of company stock valued at $723,617 over the last ninety days. 10.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in KALV. Rhumbline Advisers grew its holdings in shares of KalVista Pharmaceuticals by 3.4% in the 1st quarter. Rhumbline Advisers now owns 52,918 shares of the specialty pharmaceutical company's stock worth $611,000 after acquiring an additional 1,762 shares during the period. GAMMA Investing LLC grew its holdings in shares of KalVista Pharmaceuticals by 567.3% in 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 during the period. Bank of America Corp DE grew its holdings in shares of KalVista Pharmaceuticals by 108.8% in the 4th quarter. Bank of America Corp DE now owns 110,050 shares of the specialty pharmaceutical company's stock worth $932,000 after acquiring an additional 57,356 shares during the period. ProShare Advisors LLC acquired a new stake in KalVista Pharmaceuticals during the 4th quarter valued at $101,000. Finally, Ameriprise Financial Inc. acquired a new stake in KalVista Pharmaceuticals during the 4th quarter valued at $452,000.

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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