Insider Selling: KalVista Pharmaceuticals (NASDAQ:KALV) CEO Sells 6,693 Shares of Stock

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) CEO Benjamin Palleiko sold 6,693 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $16.08, for a total value of $107,623.44. Following the completion of the sale, the chief executive officer directly owned 451,815 shares in the company, valued at $7,265,185.20. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

KalVista Pharmaceuticals Stock Up 6.6%

KALV traded up $1.14 on Tuesday, hitting $18.44. 1,664,127 shares of the company’s stock were exchanged, compared to its average volume of 690,285. KalVista Pharmaceuticals, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $19.00. The firm has a 50-day moving average price of $15.66 and a 200-day moving average price of $14.19. The company has a current ratio of 7.22, a quick ratio of 7.21 and a debt-to-equity ratio of 8.18.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KALV. HC Wainwright raised their target price on shares of KalVista Pharmaceuticals from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. TD Cowen reiterated a “buy” rating on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 3rd. Wall Street Zen raised KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Needham & Company LLC lifted their target price on shares of KalVista Pharmaceuticals from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Institutional Trading of KalVista Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in KalVista Pharmaceuticals by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,501,119 shares of the specialty pharmaceutical company’s stock worth $30,464,000 after purchasing an additional 88,720 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in KalVista Pharmaceuticals in the 3rd quarter valued at about $24,360,000. State Street Corp increased its stake in KalVista Pharmaceuticals by 21.3% during the fourth quarter. State Street Corp now owns 1,911,691 shares of the specialty pharmaceutical company’s stock worth $30,874,000 after purchasing an additional 336,195 shares during the period. Vestal Point Capital LP lifted 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 lifted its position in shares of KalVista Pharmaceuticals by 155.5% during the third quarter. Parkman Healthcare Partners LLC now owns 1,735,003 shares of the specialty pharmaceutical company’s stock worth $21,132,000 after purchasing an additional 1,055,940 shares in the last quarter.

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.