KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) Sees Significant Growth in Short Interest

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 7,370,000 shares, an increase of 7.3% from the October 31st total of 6,870,000 shares. Based on an average daily trading volume, of 415,400 shares, the short-interest ratio is currently 17.7 days.

Analyst Ratings Changes

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

Insider Activity at KalVista Pharmaceuticals

In other news, insider Paul K. Audhya sold 8,077 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $9.26, for a total transaction of $74,793.02. Following the transaction, the insider now directly owns 94,199 shares of the company’s stock, valued at approximately $872,282.74. This trade represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Benjamin L. Palleiko sold 7,352 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $12.19, for a total value of $89,620.88. Following the completion of the sale, the chief executive officer now owns 250,800 shares of the company’s stock, valued at approximately $3,057,252. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,016 shares of company stock worth $319,344. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in KalVista Pharmaceuticals by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,142 shares of the specialty pharmaceutical company’s stock valued at $263,000 after purchasing an additional 944 shares during the last quarter. HighVista Strategies LLC boosted its holdings in shares of KalVista Pharmaceuticals by 4.5% during the 3rd quarter. HighVista Strategies LLC now owns 33,305 shares of the specialty pharmaceutical company’s stock valued at $386,000 after acquiring an additional 1,432 shares in the last quarter. ClariVest Asset Management LLC grew its position in KalVista Pharmaceuticals by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 57,096 shares of the specialty pharmaceutical company’s stock worth $673,000 after acquiring an additional 1,535 shares during the last quarter. Nicholas Investment Partners LP increased its holdings in KalVista Pharmaceuticals by 0.9% in the 2nd quarter. Nicholas Investment Partners LP now owns 184,358 shares of the specialty pharmaceutical company’s stock worth $2,172,000 after purchasing an additional 1,714 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in KalVista Pharmaceuticals in the second quarter valued at about $25,000.

KalVista Pharmaceuticals Stock Performance

Shares of KALV stock opened at $10.27 on Tuesday. KalVista Pharmaceuticals has a fifty-two week low of $7.39 and a fifty-two week high of $16.88. The stock’s fifty day moving average price is $10.95 and its two-hundred day moving average price is $11.90. The company has a market cap of $443.87 million, a PE ratio of -2.85 and a beta of 0.92.

KalVista Pharmaceuticals (NASDAQ:KALV) last released its quarterly earnings data on Thursday, September 5th. The specialty pharmaceutical company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.04. On average, equities analysts predict that KalVista Pharmaceuticals will post -2.7 EPS for the current fiscal year.

About KalVista Pharmaceuticals

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).