KalVista Pharmaceuticals (NASDAQ:KALV) Trading Down 6.4% - Here's Why

Key Points

• Shares fell 6.4% mid-day to about $19.54 (low $19.60) on roughly 1.27 million shares traded, a ~21% increase versus average volume.
• Wall Street is mostly positive: seven analysts rate KALV a Buy versus one Sell, giving a consensus "Moderate Buy" and a $32.60 target, with recent upgrades lifting targets (Stifel $42, HC Wainwright $37).
• Insider selling has accelerated — insiders disposed of 248,009 shares in the last quarter (including a recent sale by major holder Venrock), leaving insiders with about 4.3% ownership.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s stock price dropped 6.4% during mid-day trading on Thursday . The company traded as low as $19.60 and last traded at $19.5350. Approximately 1,273,110 shares traded hands during trading, an increase of 21% from the average daily volume of 1,055,818 shares. The stock had previously closed at $20.86.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KALV shares. Stifel Nicolaus lifted their target price on KalVista Pharmaceuticals from $39.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Wall Street Zen raised shares of KalVista Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Monday. HC Wainwright lifted their target price on shares of KalVista Pharmaceuticals from $27.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, January 9th. Citizens Jmp decreased their price target on shares of KalVista Pharmaceuticals from $29.00 to $28.00 and set a "market outperform" rating on the stock in a report on Thursday, March 26th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of KalVista Pharmaceuticals in a research report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.60.

KalVista Pharmaceuticals Price Performance

The stock has a market cap of $1.00 billion, a P/E ratio of -4.96 and a beta of -0.40. The company has a debt-to-equity ratio of 8.18, a quick ratio of 7.21 and a current ratio of 7.22. The firm has a 50-day moving average price of $17.16 and a 200-day moving average price of $15.03.

Insider Activity

In other news, insider Nicole Sweeny sold 3,975 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $15.57, for a total value of $61,890.75. Following the sale, the insider directly owned 47,003 shares of the company's stock, valued at $731,836.71. This represents a 7.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Venrock Healthcare Capital Par sold 39,986 shares of KalVista Pharmaceuticals stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $18.28, for a total transaction of $730,944.08. Following the transaction, the insider directly owned 5,089,354 shares of the company's stock, valued at approximately $93,033,391.12. This trade represents a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 248,009 shares of company stock worth $4,213,467. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in 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 worth $46,000 after purchasing an additional 1,292 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of KalVista Pharmaceuticals during the third quarter valued at approximately $55,000. Wolverine Asset Management LLC bought a new stake in shares of KalVista Pharmaceuticals during the third quarter valued at approximately $57,000. KLP Kapitalforvaltning AS purchased a new position in KalVista Pharmaceuticals in the 3rd quarter worth approximately $63,000. Finally, Truvestments Capital LLC lifted its position in KalVista Pharmaceuticals by 253.8% in the 4th quarter. Truvestments Capital LLC now owns 4,684 shares of the specialty pharmaceutical company's stock valued at $76,000 after acquiring an additional 3,360 shares in the last quarter.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals is a clinical‐stage biotechnology company focused on the discovery and development of small‐molecule protease inhibitors for orphan and specialty disease indications. The firm's scientific platform centers on selective inhibition of plasma kallikrein, a serine protease implicated in disorders characterized by vascular leak, edema and inflammation. KalVista's approach leverages oral and intravitreal delivery formats to target both systemic and ophthalmic conditions.

The company's lead programs include an oral plasma kallikrein inhibitor in clinical trials for the acute treatment of hereditary angioedema (HAE) attacks and an intravitreal kallikrein inhibitor being evaluated for diabetic macular edema.

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