Affinity Asset Advisors LLC Lowers Stake in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)

Affinity Asset Advisors LLC reduced its stake in shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) by 50.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,000 shares of the specialty pharmaceutical company’s stock after selling 50,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in KalVista Pharmaceuticals were worth $1,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in KalVista Pharmaceuticals by 166.9% in the first quarter. Royal Bank of Canada now owns 1,788 shares of the specialty pharmaceutical company’s stock worth $46,000 after acquiring an additional 1,118 shares during the period. FORA Capital LLC purchased a new stake in KalVista Pharmaceuticals in the first quarter worth about $46,000. First Mercantile Trust Co. purchased a new stake in KalVista Pharmaceuticals in the first quarter worth about $47,000. Nisa Investment Advisors LLC purchased a new stake in KalVista Pharmaceuticals in the second quarter worth about $58,000. Finally, Legal & General Group Plc lifted its stake in KalVista Pharmaceuticals by 47.2% in the second quarter. Legal & General Group Plc now owns 2,452 shares of the specialty pharmaceutical company’s stock worth $59,000 after acquiring an additional 786 shares during the period. 99.28% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Christopher Yea sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $20.52, for a total value of $102,600.00. Following the sale, the insider now owns 8,234 shares in the company, valued at $168,961.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Andrew Crockett sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $17.18, for a total value of $171,800.00. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

A number of equities analysts have commented on KALV shares. HC Wainwright reiterated a “buy” rating and issued a $48.00 target price on shares of KalVista Pharmaceuticals in a report on Friday, September 10th. SVB Leerink reiterated a “buy” rating and issued a $51.00 target price on shares of KalVista Pharmaceuticals in a report on Sunday, September 12th. Finally, Zacks Investment Research upgraded shares of KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $47.43.

Shares of KALV traded down $0.27 during mid-day trading on Thursday, hitting $18.01. 2,368 shares of the company traded hands, compared to its average volume of 495,399. KalVista Pharmaceuticals, Inc. has a 1-year low of $13.76 and a 1-year high of $45.00. The company has a market capitalization of $440.13 million, a PE ratio of -7.46 and a beta of 1.94. The business has a 50 day moving average of $19.05 and a 200 day moving average of $22.93.

KalVista Pharmaceuticals (NASDAQ:KALV) last posted its quarterly earnings data on Wednesday, September 8th. The specialty pharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.05. On average, sell-side analysts predict that KalVista Pharmaceuticals, Inc. will post -3.21 earnings per share for the current fiscal year.

KalVista Pharmaceuticals Profile

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes small molecule protease inhibitors for diseases with unmet needs. The company's product portfolio comprises small molecule plasma kallikrein inhibitors targeting hereditary angioedema (HAE) and diabetic macular edema (DME); and oral plasma kallikrein inhibitors.

Further Reading: Death Cross

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Institutional Ownership by Quarter for KalVista Pharmaceuticals (NASDAQ:KALV)

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