KalVista Pharmaceuticals (NASDAQ:KALV) Share Price Crosses Below 50 Day Moving Average - Time to Sell?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.14 and traded as low as $8.75. KalVista Pharmaceuticals shares last traded at $9.30, with a volume of 905,580 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KALV. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of KalVista Pharmaceuticals in a research report on Monday, September 9th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a research report on Monday, October 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $32.00 price objective on shares of KalVista Pharmaceuticals in a report on Friday, September 6th.

KalVista Pharmaceuticals Stock Down 3.1 %

The company has a fifty day moving average price of $11.14 and a two-hundred day moving average price of $12.05.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its earnings results on Thursday, September 5th. The specialty pharmaceutical company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.04. Sell-side analysts predict that KalVista Pharmaceuticals, Inc. will post -2.7 EPS for the current fiscal year.

Insider Activity

In related news, CEO Benjamin L. Palleiko sold 7,352 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $12.19, for a total transaction of $89,620.88. Following the completion of the sale, the chief executive officer now directly owns 250,800 shares of the company's stock, valued at approximately $3,057,252. This trade represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul K. Audhya sold 2,135 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $12.40, for a total value of $26,474.00. Following the sale, the insider now owns 83,745 shares in the company, valued at $1,038,438. This represents a 2.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company's stock.

Institutional Trading of KalVista Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Vestal Point Capital LP lifted its stake in shares of KalVista Pharmaceuticals by 73.9% in the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company's stock worth $46,320,000 after acquiring an additional 1,700,000 shares during the period. Capital World Investors acquired a new position in shares of KalVista Pharmaceuticals during the 1st quarter valued at about $17,370,000. Great Point Partners LLC bought a new stake in KalVista Pharmaceuticals during the second quarter worth approximately $15,768,000. StemPoint Capital LP raised its position in shares of KalVista Pharmaceuticals by 174.4% in the first quarter. StemPoint Capital LP now owns 1,161,060 shares of the specialty pharmaceutical company's stock valued at $13,770,000 after purchasing an additional 737,886 shares during the period. Finally, State Street Corp grew its stake in KalVista Pharmaceuticals by 68.1% in the 3rd quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company's stock valued at $14,725,000 after buying an additional 515,179 shares during the last quarter.

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).