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

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 7,130,000 shares, a decline of 6.1% from the January 15th total of 7,590,000 shares. Based on an average daily trading volume, of 368,500 shares, the days-to-cover ratio is currently 19.3 days.

Insiders Place Their Bets

In related news, major shareholder Venrock Healthcare Capital Par purchased 43,707 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $8.76 per share, for a total transaction of $382,873.32. Following the transaction, the insider now owns 4,986,480 shares of the company’s stock, valued at $43,681,564.80. This represents a 0.88 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Benjamin L. Palleiko sold 5,104 shares of the business’s 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 sale, the chief executive officer now owns 278,855 shares in the company, valued at $2,738,356.10. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 236,055 shares of company stock worth $2,162,146 and have sold 18,043 shares worth $176,758. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Aquatic Capital Management LLC acquired a new position in KalVista Pharmaceuticals in the 4th quarter valued at approximately $44,000. Tower Research Capital LLC TRC increased its stake in 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 buying an additional 5,502 shares during the period. Legal & General Group Plc increased its stake in KalVista Pharmaceuticals by 22.5% in the 4th quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock valued at $69,000 after buying an additional 1,494 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in KalVista Pharmaceuticals by 67.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,286 shares of the specialty pharmaceutical company’s stock valued at $96,000 after buying an additional 3,328 shares during the period. Finally, Martin Worley Group acquired a new position in KalVista Pharmaceuticals in the 4th quarter valued at approximately $86,000.

KalVista Pharmaceuticals Price Performance

KalVista Pharmaceuticals stock opened at $10.71 on Thursday. The firm’s 50 day simple moving average is $8.80 and its 200-day simple moving average is $10.43. The company has a market cap of $529.29 million, a P/E ratio of -2.94 and a beta of 0.85. KalVista Pharmaceuticals has a fifty-two week low of $7.30 and a fifty-two week high of $15.50.

KalVista Pharmaceuticals (NASDAQ:KALV) last released its earnings results on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.01. On average, analysts expect that KalVista Pharmaceuticals will post -3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

KALV has been the topic of several recent research reports. Bank of America initiated coverage on shares of KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $22.00 price objective on the stock. TD Cowen initiated coverage on shares of KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, December 6th. Citizens Jmp raised shares of KalVista Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $23.80.

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).