KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Down 3% – Here’s Why

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) dropped 3% during mid-day trading on Wednesday . The stock traded as low as $12.00 and last traded at $12.01. Approximately 89,287 shares traded hands during trading, a decline of 76% from the average daily volume of 379,709 shares. The stock had previously closed at $12.37.

Wall Street Analyst Weigh In

KALV has been the subject of several research reports. JMP Securities initiated coverage on shares of KalVista Pharmaceuticals in a research report on Friday, January 31st. They set an “outperform” rating and a $19.00 price objective for the company. Citizens Jmp raised shares of KalVista Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 31st. Bank of America started coverage on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 18th. They issued a “buy” rating and a $22.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $23.80.

KalVista Pharmaceuticals Price Performance

The firm has a market capitalization of $600.62 million, a P/E ratio of -3.32 and a beta of 0.76. The business’s 50-day moving average is $9.89 and its 200 day moving average is $10.25.

Insider Buying and Selling

In related news, insider Paul K. Audhya sold 3,125 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total transaction of $30,687.50. Following the sale, the insider now directly owns 100,334 shares of the company’s stock, valued at approximately $985,279.88. The trade was a 3.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Benjamin L. Palleiko sold 6,669 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $11.97, for a total transaction of $79,827.93. Following the sale, the chief executive officer now directly owns 287,811 shares in the company, valued at $3,445,097.67. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 236,055 shares of company stock valued at $2,162,146 and have sold 17,292 shares valued at $184,625. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aquatic Capital Management LLC bought a new stake in shares of KalVista Pharmaceuticals during the 4th quarter valued at approximately $44,000. Tower Research Capital LLC TRC boosted its position in KalVista Pharmaceuticals by 666.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company’s stock worth $54,000 after buying an additional 5,502 shares during the period. Legal & General Group Plc boosted its position in KalVista Pharmaceuticals by 22.5% during the 4th quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock worth $69,000 after buying an additional 1,494 shares during the period. Martin Worley Group acquired a new stake in KalVista Pharmaceuticals during the 4th quarter worth approximately $86,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in KalVista Pharmaceuticals by 24.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock worth $87,000 after buying an additional 2,043 shares during the period.

KalVista Pharmaceuticals Company Profile

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).