KalVista Pharmaceuticals (NASDAQ:KALV) Posts Earnings Results, Misses Expectations By $0.05 EPS

KalVista Pharmaceuticals (NASDAQ:KALV) issued its quarterly earnings data on Friday. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.05), Zacks reports. The firm had revenue of $39.17 million during the quarter, compared to analyst estimates of $39.03 million.

KalVista Pharmaceuticals Price Performance

Shares of KalVista Pharmaceuticals stock traded down $0.03 during trading on Friday, hitting $26.73. The stock had a trading volume of 8,869,858 shares, compared to its average volume of 6,416,019. The business has a fifty day moving average of $20.40 and a two-hundred day moving average of $16.72. KalVista Pharmaceuticals has a fifty-two week low of $9.83 and a fifty-two week high of $26.85. The firm has a market cap of $1.37 billion, a P/E ratio of -6.77 and a beta of -0.12. The company has a debt-to-equity ratio of 8.18, a current ratio of 7.22 and a quick ratio of 7.21.

Insider Activity

In other news, CFO Brian Piekos sold 1,862 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $20.22, for a total transaction of $37,649.64. Following the completion of the sale, the chief financial officer owned 18,150 shares in the company, valued at approximately $366,993. This represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Paul K. Audhya sold 5,354 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $15.57, for a total value of $83,361.78. Following the sale, the insider directly owned 138,983 shares in the company, valued at $2,163,965.31. This trade represents a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 263,937 shares of company stock valued at $4,572,251 over the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Trading of KalVista Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in shares of KalVista Pharmaceuticals by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,626 shares of the specialty pharmaceutical company’s stock worth $165,000 after acquiring an additional 818 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in KalVista Pharmaceuticals by 47.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company’s stock worth $46,000 after purchasing an additional 1,292 shares during the period. Rhumbline Advisers grew its position in KalVista Pharmaceuticals by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company’s stock worth $615,000 after purchasing an additional 1,458 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in KalVista Pharmaceuticals by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 324,369 shares of the specialty pharmaceutical company’s stock valued at $5,239,000 after purchasing an additional 2,402 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in KalVista Pharmaceuticals by 13.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,325 shares of the specialty pharmaceutical company’s stock valued at $281,000 after purchasing an additional 2,939 shares during the period.

Analyst Upgrades and Downgrades

KALV has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 21st. Needham & Company LLC cut shares of KalVista Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, April 30th. Stifel Nicolaus upped their price objective on shares of KalVista Pharmaceuticals from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. JonesTrading cut shares of KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 30th. Finally, Leerink Partners downgraded shares of KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.60.

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.