KalVista Pharmaceuticals (NASDAQ:KALV) Sets New 12-Month High – Here’s What Happened

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $26.98 and last traded at $26.9750, with a volume of 210621 shares traded. The stock had previously closed at $26.95.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KALV shares. HC Wainwright downgraded shares of KalVista Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $27.00 in a research note on Friday, May 1st. Stifel Nicolaus increased their price target on shares of KalVista Pharmaceuticals from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. JonesTrading lowered shares of KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 30th. Citizens Jmp cut shares of KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Finally, Needham & Company LLC lowered KalVista Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.60.

KalVista Pharmaceuticals Trading Up 0.1%

The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -7.80 and a beta of -0.12. The company has a debt-to-equity ratio of 8.18, a quick ratio of 5.10 and a current ratio of 5.17. The business’s 50-day simple moving average is $23.39 and its 200-day simple moving average is $18.36.

KalVista Pharmaceuticals (NASDAQ:KALV) last issued its quarterly earnings results on Thursday, May 14th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The firm had revenue of $40.86 million for the quarter, compared to the consensus estimate of $39.03 million. On average, research analysts expect that KalVista Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling at KalVista Pharmaceuticals

In other news, insider Paul K. Audhya sold 2,239 shares of the firm’s stock in a transaction on 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 in the company, valued at $4,023,962.80. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Piekos sold 1,489 shares of KalVista Pharmaceuticals stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $26.78, for a total value 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. This trade represents a 6.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 254,602 shares of company stock worth $4,656,670 over the last quarter. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new stake in shares of KalVista Pharmaceuticals in the 1st quarter valued at approximately $646,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in KalVista Pharmaceuticals by 13.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,325 shares of the specialty pharmaceutical company’s stock valued at $281,000 after purchasing an additional 2,939 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in KalVista Pharmaceuticals by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 339,936 shares of the specialty pharmaceutical company’s stock worth $3,923,000 after purchasing an additional 12,263 shares during the period. Creative Planning raised its holdings in KalVista Pharmaceuticals by 20.0% in the second quarter. Creative Planning now owns 33,380 shares of the specialty pharmaceutical company’s stock worth $377,000 after purchasing an additional 5,573 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of KalVista Pharmaceuticals by 2.8% during the second quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company’s stock worth $615,000 after purchasing an additional 1,458 shares in the last quarter.

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.