KalVista Pharmaceuticals (NASDAQ:KALV) Shares Down 7.2% - What's Next?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) shares dropped 7.2% during mid-day trading on Tuesday . The stock traded as low as $10.90 and last traded at $10.68. Approximately 356,367 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 393,252 shares. The stock had previously closed at $11.50.

Analyst Ratings Changes

A number of equities analysts have commented on KALV shares. Jones Trading reissued a "buy" rating and issued a $30.00 price objective on shares of KalVista Pharmaceuticals in a research note on Wednesday, March 26th. Bank of America assumed coverage on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 18th. They set a "buy" rating and a $22.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 8th. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of KalVista Pharmaceuticals in a research report on Friday, March 14th. Finally, Citizens Jmp raised shares of KalVista Pharmaceuticals to a "strong-buy" rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, KalVista Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $24.83.

KalVista Pharmaceuticals Price Performance

The stock has a market cap of $571.24 million, a price-to-earnings ratio of -3.16 and a beta of 0.39. The firm has a 50 day simple moving average of $11.07 and a two-hundred day simple moving average of $10.30.

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Insider Buying and Selling

In other news, CEO Benjamin L. Palleiko sold 5,104 shares of KalVista Pharmaceuticals stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total transaction of $50,121.28. Following the transaction, the chief executive officer now owns 278,855 shares in the company, valued at $2,738,356.10. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Venrock Healthcare Capital Par bought 14,562 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average cost of $9.22 per share, with a total value of $134,261.64. Following the completion of the purchase, the insider now owns 5,012,796 shares in the company, valued at $46,217,979.12. This represents a 0.29 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 261,055 shares of company stock valued at $2,397,646 and have sold 17,292 shares valued at $184,625. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of KalVista Pharmaceuticals by 567.3% during the first quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock worth $51,000 after acquiring an additional 3,767 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of KalVista Pharmaceuticals in the 4th quarter valued at about $44,000. Tower Research Capital LLC TRC raised its stake in shares of KalVista Pharmaceuticals by 666.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company's stock valued at $54,000 after purchasing an additional 5,502 shares during the period. Legal & General Group Plc lifted its holdings in shares of KalVista Pharmaceuticals by 22.5% in the fourth quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company's stock valued at $69,000 after purchasing an additional 1,494 shares in the last quarter. Finally, Martin Worley Group acquired a new position in shares of KalVista Pharmaceuticals during the fourth quarter worth about $86,000.

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).