KalVista Pharmaceuticals (NASDAQ:KALV) Shares Cross Below 50-Day Moving Average – Should You Sell?

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.14 and traded as low as $8.75. KalVista Pharmaceuticals shares last traded at $9.30, with a volume of 905,580 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on KALV shares. Cantor Fitzgerald reissued an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, September 9th. 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. Finally, HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of KalVista Pharmaceuticals in a research report on Monday, October 7th.

KalVista Pharmaceuticals Stock Down 2.0 %

The stock’s fifty day simple moving average is $11.14 and its 200-day simple moving average is $12.05. The company has a market capitalization of $401.90 million, a PE ratio of -2.63 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. Analysts expect that KalVista Pharmaceuticals, Inc. will post -2.7 EPS for the current year.

Insider Transactions at KalVista Pharmaceuticals

In other news, insider Paul K. Audhya sold 2,135 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $12.40, for a total value of $26,474.00. Following the completion of the transaction, the insider now directly owns 83,745 shares of the company’s stock, valued at $1,038,438. The trade was a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Benjamin L. Palleiko sold 7,352 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 250,800 shares in the company, valued at approximately $3,057,252. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KALV. Vestal Point Capital LP boosted its stake in shares of KalVista Pharmaceuticals by 73.9% during the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock worth $46,320,000 after purchasing an additional 1,700,000 shares during the last quarter. Capital World Investors purchased a new stake in KalVista Pharmaceuticals in the 1st quarter worth approximately $17,370,000. Great Point Partners LLC purchased a new stake in KalVista Pharmaceuticals in the 2nd quarter worth approximately $15,768,000. StemPoint Capital LP raised its holdings in KalVista Pharmaceuticals by 174.4% in the 1st quarter. StemPoint Capital LP now owns 1,161,060 shares of the specialty pharmaceutical company’s stock valued at $13,770,000 after acquiring an additional 737,886 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of KalVista Pharmaceuticals by 68.1% during the 3rd quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock worth $14,725,000 after purchasing an additional 515,179 shares during the period.

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).