Spruce Street Capital LP Takes Position in KalVista Pharmaceuticals, Inc. $KALV

Spruce Street Capital LP acquired a new stake in shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) during the fourth quarter, Holdings Channel reports. The fund acquired 387,968 shares of the specialty pharmaceutical company’s stock, valued at approximately $6,266,000. KalVista Pharmaceuticals makes up about 2.1% of Spruce Street Capital LP’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of KALV. Tudor Investment Corp ET AL bought a new position in shares of KalVista Pharmaceuticals during the third quarter valued at about $24,360,000. Parkman Healthcare Partners LLC grew its stake in shares of KalVista Pharmaceuticals by 155.5% during the third quarter. Parkman Healthcare Partners LLC now owns 1,735,003 shares of the specialty pharmaceutical company’s stock valued at $21,132,000 after buying an additional 1,055,940 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of KalVista Pharmaceuticals by 2,258.6% during the second quarter. Ameriprise Financial Inc. now owns 945,125 shares of the specialty pharmaceutical company’s stock valued at $10,685,000 after buying an additional 905,053 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of KalVista Pharmaceuticals during the third quarter valued at about $8,580,000. Finally, Schroder Investment Management Group grew its stake in shares of KalVista Pharmaceuticals by 108.7% during the third quarter. Schroder Investment Management Group now owns 1,158,457 shares of the specialty pharmaceutical company’s stock valued at $14,145,000 after buying an additional 603,499 shares during the last quarter.

KalVista Pharmaceuticals Price Performance

NASDAQ KALV opened at $27.00 on Tuesday. 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 $1.44 billion, a PE ratio of -7.80 and a beta of -0.12. KalVista Pharmaceuticals, Inc. has a 1 year low of $9.83 and a 1 year high of $27.00. The business’s 50-day moving average is $24.30 and its 200 day moving average is $18.93.

KalVista Pharmaceuticals (NASDAQ:KALV) last posted its earnings results on Thursday, May 14th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) 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 the consensus estimate of $39.03 million. Sell-side analysts forecast that KalVista Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KALV. HC Wainwright cut KalVista Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $37.00 to $27.00 in a research note on Friday, May 1st. Leerink Partners cut KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Citizens Jmp cut KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Wall Street Zen raised KalVista Pharmaceuticals to a “hold” rating in a research note on Saturday. Finally, JonesTrading cut KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.60.

Insider Transactions at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CFO Brian Piekos sold 1,489 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $26.78, for a total transaction of $39,875.42. Following the sale, the chief financial officer directly owned 21,661 shares of the company’s stock, valued at approximately $580,081.58. The trade was a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Paul K. Audhya sold 2,239 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.78, for a total value of $59,960.42. Following the sale, the insider directly owned 150,260 shares in the company, valued at approximately $4,023,962.80. The trade was a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 254,602 shares of company stock valued at $4,656,670. Insiders own 4.30% of the company’s stock.

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.