KalVista Pharmaceuticals (NASDAQ:KALV) Posts Earnings Results, Misses Expectations By $2.86 EPS

KalVista Pharmaceuticals (NASDAQ:KALV) released its quarterly earnings data on Thursday. The specialty pharmaceutical company reported ($3.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($2.86), RTT News reports. During the same quarter in the previous year, the firm earned ($1.07) earnings per share.

KalVista Pharmaceuticals Stock Performance

Shares of KALV stock opened at $15.99 on Thursday. The stock’s fifty day moving average is $12.51 and its two-hundred day moving average is $11.14. The firm has a market capitalization of $795.02 million, a P/E ratio of -4.30 and a beta of -0.04. KalVista Pharmaceuticals has a fifty-two week low of $7.30 and a fifty-two week high of $16.45.

Insiders Place Their Bets

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 7,169 shares of KalVista Pharmaceuticals stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $14.50, for a total value of $103,950.50. Following the completion of the transaction, the chief executive officer directly owned 315,074 shares of the company’s stock, valued at $4,568,573. The trade was a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the insider directly owned 106,611 shares of the company’s stock, valued at approximately $1,262,274.24. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,899 shares of company stock worth $206,176 in the last 90 days. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of KalVista Pharmaceuticals by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,325 shares of the specialty pharmaceutical company’s stock worth $281,000 after purchasing an additional 2,939 shares during the last quarter. AQR Capital Management LLC purchased a new position in KalVista Pharmaceuticals in the first quarter worth $646,000. Finally, Goldman Sachs Group Inc. raised its position 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 acquiring an additional 12,263 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KALV shares. JMP Securities lifted their price objective on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the stock a “market outperform” rating in a report on Tuesday. Leerink Partners boosted their price target on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday. HC Wainwright boosted their price target on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday. Jones Trading restated a “buy” rating and set a $30.00 price target on shares of KalVista Pharmaceuticals in a research note on Wednesday, March 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $26.29.

About KalVista Pharmaceuticals

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).