KalVista Pharmaceuticals (NASDAQ:KALV) Shares Down 6.4% – Here’s Why

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) fell 6.4% on Thursday . The stock traded as low as $19.60 and last traded at $19.5350. 1,273,110 shares were traded during mid-day trading, an increase of 21% from the average session volume of 1,055,818 shares. The stock had previously closed at $20.86.

Analysts Set New Price Targets

A number of brokerages have weighed in on KALV. Needham & Company LLC boosted their target price on KalVista Pharmaceuticals from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Stifel Nicolaus increased their price objective on shares of KalVista Pharmaceuticals from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Wall Street Zen raised shares of KalVista Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday. Citizens Jmp lowered their price target on 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 note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.60.

KalVista Pharmaceuticals Stock Performance

The business’s fifty day moving average is $17.16 and its 200-day moving average is $15.03. The company has a quick ratio of 7.21, a current ratio of 7.22 and a debt-to-equity ratio of 8.18. The company has a market cap of $1.00 billion, a PE ratio of -4.96 and a beta of -0.40.

Insider Activity

In related news, major shareholder Venrock Healthcare Capital Par sold 39,986 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $18.28, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul K. Audhya sold 5,354 shares of KalVista Pharmaceuticals stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $15.57, for a total value of $83,361.78. Following the transaction, the insider owned 138,983 shares in the company, valued at $2,163,965.31. This trade represents a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 248,009 shares of company stock worth $4,213,467. Company insiders own 4.30% of the company’s stock.

Institutional Trading of KalVista Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of KalVista Pharmaceuticals by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,501,119 shares of the specialty pharmaceutical company’s stock valued at $30,464,000 after buying an additional 88,720 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of KalVista Pharmaceuticals in the third quarter valued at about $24,360,000. State Street Corp boosted its stake in shares of KalVista Pharmaceuticals by 21.3% in the fourth quarter. State Street Corp now owns 1,911,691 shares of the specialty pharmaceutical company’s stock worth $30,874,000 after acquiring an additional 336,195 shares during the period. Vestal Point Capital LP grew its position in shares of KalVista Pharmaceuticals by 152.0% during the fourth quarter. Vestal Point Capital LP now owns 1,890,000 shares of the specialty pharmaceutical company’s stock worth $30,524,000 after purchasing an additional 1,140,000 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its stake in KalVista Pharmaceuticals by 155.5% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,735,003 shares of the specialty pharmaceutical company’s stock valued at $21,132,000 after purchasing an additional 1,055,940 shares during the period.

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.