KalVista Pharmaceuticals (NASDAQ:KALV) Shares Down 9.3%

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) fell 9.3% during mid-day trading on Tuesday . The company traded as low as $12.14 and last traded at $12.15. 106,801 shares were traded during trading, a decline of 79% from the average session volume of 506,340 shares. The stock had previously closed at $13.39.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC cut their price objective on shares of KalVista Pharmaceuticals from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, July 12th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a report on Monday, July 15th. Finally, Cantor Fitzgerald upgraded shares of KalVista Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 26th.

KalVista Pharmaceuticals Stock Performance

The business’s 50-day moving average price is $13.16 and its 200 day moving average price is $12.43. The company has a market cap of $542.96 million, a P/E ratio of -3.79 and a beta of 0.91.

KalVista Pharmaceuticals (NASDAQ:KALV) last posted its earnings results on Thursday, July 11th. The specialty pharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.29). Equities research analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.57 earnings per share for the current year.

Insiders Place Their Bets

In other KalVista Pharmaceuticals news, insider Paul K. Audhya sold 2,135 shares of KalVista Pharmaceuticals stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $12.40, for a total value of $26,474.00. Following the completion of the sale, the insider now owns 83,745 shares in the company, valued at approximately $1,038,438. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other KalVista Pharmaceuticals news, insider Paul K. Audhya sold 2,135 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $12.40, for a total value of $26,474.00. Following the transaction, the insider now directly owns 83,745 shares of the company’s stock, valued at approximately $1,038,438. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Benjamin L. Palleiko sold 14,215 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $170,722.15. Following the completion of the transaction, the chief executive officer now directly owns 242,527 shares in the company, valued at $2,912,749.27. The disclosure for this sale can be found here. Insiders sold 30,917 shares of company stock worth $368,563 in the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of KalVista Pharmaceuticals during the 2nd quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new stake in shares of KalVista Pharmaceuticals during the 1st quarter valued at approximately $92,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of KalVista Pharmaceuticals by 101.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,024 shares of the specialty pharmaceutical company’s stock valued at $95,000 after purchasing an additional 4,043 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of KalVista Pharmaceuticals during the 1st quarter valued at approximately $121,000. Finally, PEAK6 Investments LLC bought a new stake in KalVista Pharmaceuticals during the 1st quarter worth approximately $178,000.

KalVista Pharmaceuticals Company Profile

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of small molecule protease inhibitors for diseases with unmet needs in the United States. The company's product portfolio comprises small molecule plasma kallikrein inhibitors targeting hereditary angioedema (HAE) and diabetic macular edema (DME); and oral plasma kallikrein inhibitors.