Insider Selling: KalVista Pharmaceuticals (NASDAQ:KALV) Insider Sells 2,239 Shares of Stock

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) insider Paul Audhya sold 2,239 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.78, for a total value of $59,960.42. Following the transaction, the insider directly owned 150,260 shares of the company’s stock, valued at $4,023,962.80. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

KalVista Pharmaceuticals Stock Performance

Shares of NASDAQ KALV traded down $0.02 during trading hours on Wednesday, hitting $26.79. 2,466,702 shares of the company’s stock were exchanged, compared to its average volume of 2,436,684. KalVista Pharmaceuticals, Inc. has a 1-year low of $9.83 and a 1-year high of $26.85. The company has a debt-to-equity ratio of 8.18, a current ratio of 5.17 and a quick ratio of 5.10. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.74 and a beta of -0.12. The company’s 50-day moving average price is $21.74 and its 200-day moving average price is $17.54.

KalVista Pharmaceuticals (NASDAQ:KALV) last posted its quarterly earnings data on Thursday, May 14th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The company had revenue of $40.86 million during the quarter, compared to analyst estimates of $39.03 million. On average, sell-side analysts expect that KalVista Pharmaceuticals, Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of KalVista Pharmaceuticals by 42.5% in the 1st quarter. Bank of America Corp DE now owns 555,628 shares of the specialty pharmaceutical company’s stock valued at $11,185,000 after purchasing an additional 165,815 shares during the period. Royal Bank of Canada grew its stake in shares of KalVista Pharmaceuticals by 137.0% in the 1st quarter. Royal Bank of Canada now owns 2,917 shares of the specialty pharmaceutical company’s stock valued at $59,000 after purchasing an additional 1,686 shares during the period. Elmind Capital LP grew its stake in shares of KalVista Pharmaceuticals by 27.5% in the 1st quarter. Elmind Capital LP now owns 1,021,300 shares of the specialty pharmaceutical company’s stock valued at $20,559,000 after purchasing an additional 220,000 shares during the period. Quantinno Capital Management LP grew its stake in shares of KalVista Pharmaceuticals by 11.3% in the 1st quarter. Quantinno Capital Management LP now owns 32,453 shares of the specialty pharmaceutical company’s stock valued at $653,000 after purchasing an additional 3,297 shares during the period. Finally, Octagon Capital Advisors LP grew its stake in shares of KalVista Pharmaceuticals by 13.9% in the 1st quarter. Octagon Capital Advisors LP now owns 1,450,000 shares of the specialty pharmaceutical company’s stock valued at $29,188,000 after purchasing an additional 176,667 shares during the period.

Analyst Ratings Changes

KALV has been the subject of several recent research reports. Needham & Company LLC cut KalVista Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 30th. JonesTrading cut KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a report on Tuesday, April 21st. Leerink Partners cut KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen cut KalVista Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.60.

KalVista Pharmaceuticals Company Profile

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.