KalVista Pharmaceuticals Inc. (NASDAQ: KALV) stock jumped 6.85% on Monday to $7.95 against a previous-day closing price of $7.44. With 0.78 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.29 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $8.05 whereas the lowest price it dropped to was $7.34. The 52-week range on KALV shows that it touched its highest point at $17.34 and its lowest point at $4.12 during that stretch. It currently has a 1-year price target of $21.83. Beta for the stock currently stands at 1.06.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KALV was up-trending over the past week, with a rise of 11.97%, but this was up by 51.72% over a month. Three-month performance surged to 81.51% while six-month performance fell -40.89%. The stock lost -32.85% in the past year, while it has gained 17.60% so far this year. A look at the trailing 12-month EPS for KALV yields -3.74 with Next year EPS estimates of -3.54. For the next quarter, that number is -1.04. This implies an EPS growth rate of -38.90% for this year and 10.20% for next year.
Float and Shares Shorts:
At present, 24.59 million KALV shares are outstanding with a float of 23.98 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.29 million, which was 9.33% higher than short shares on Sep 14, 2022. In addition to Mr. Thomas Andrew Crockett M.B.A. as the firm’s CEO & Director, Mr. Benjamin L. Palleiko serves as its Chief Bus. Officer & CFO.
Through their ownership of 100.35% of KALV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.32% of KALV, in contrast to 22.20% held by mutual funds. Shares owned by individuals account for 17.81%. As the largest shareholder in KALV with 9.96% of the stake, TCG Crossover Management LLC holds 3,395,495 shares worth 3,395,495. A second-largest stockholder of KALV, Deep Track Capital LP, holds 1,824,000 shares, controlling over 5.35% of the firm’s shares. Tang Capital Management LLC is the third largest shareholder in KALV, holding 1,800,000 shares or 5.28% stake. With a 2.34% stake in KALV, the Biotech Growth Trust Plc is the largest stakeholder. A total of 799,027 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.15% of KALV stock, is the second-largest Mutual Fund holder. It holds 733,821 shares valued at 4.96 million. iShares Russell 2000 ETF holds 1.57% of the stake in KALV, owning 536,241 shares worth 3.62 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KALV since 6 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With KALV analysts setting a high price target of $30.00 and a low target of $14.00, the average target price over the next 12 months is $21.83. Based on these targets, KALV could surge 277.36% to reach the target high and rise by 76.1% to reach the target low. Reaching the average price target will result in a growth of 174.59% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. KALV will report FY 2023 earnings on 07/06/2023. Analysts have provided yearly estimates in a range of -$3.70 being high and -$4.38 being low. For KALV, this leads to a yearly average estimate of -$3.94. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. KalVista Pharmaceuticals Inc. surprised analysts by $0.16 when it reported -$0.90 EPS against a consensus estimate of -$1.06. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is -$0.92 and the low estimate is -$1.24. The average estimate for the next quarter is thus -$1.04.
Summary of Insider Activity:
Insiders traded KALV stock several times over the past three months with 5 Buys and 5 Sells. In these transactions, 14,191 shares were bought while 4,898 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 28,378 while 27,642 shares were sold.