KALV KalVista Pharmaceuticals, Inc. Insider Trading

Venrock sells 214,631 shares for $3.7M as KALV hits 52-week high of $19.33, ending strong rally (+22.6% in 30 days).

Venrock Healthcare Capital Partners III, L.P., a 10% owner, executed 5 separate sales totaling 214,631 shares for $3,691,147.81 on March 25–26, 2026, at prices ranging from $16.95 to $19.12 (blended average $17.20). The sale occurs as KALV's stock reaches its 52-week high of $19.33 following a notable 22.6% gain over 30 days and 27.4% over 90 days. Notably, Venrock's prior 5 trades at KALV—all buys executed in February and April 2025—displayed strong 90-day positive returns (range +21.5% to +58.7%), with all 5 trades well-timed at that metric. The current sale at elevated price levels follows the stock's run to peak valuation, and the post-transaction holding of 5,089,354 shares represents a 4.0% reduction in Venrock's position. Against the backdrop of the company's unprofitable status ($-49.5M net income) and reliance on near-term cash burn, the sale execution during the stock's highest valuation level in the past year warrants investor attention to capital allocation signals and potential insider view on near-term price sustainability.

CEO Palleiko sold 32,979 shares of KALV at $15.69; holds 369,595 shares post-transaction. Stock up 35.0% in 90 days.

Benjamin L Palleiko, CEO of KalVista Pharmaceuticals, sold 32,979 shares at $15.69 on 2025-07-09, reducing his holdings by 8.2% to 369,595 shares. His cross-ticker track record shows a 100.00% well-timed rate on 1 prior sell, and his prior KALV sale on 2024-02-14 was followed by a 90-day decline of -16.8%. However, the current context differs materially: KALV stock has appreciated 35.0% over the past 90 days and is trading at $15.51, near its 52-week high of $15.99. The company generated $1.6M in quarterly revenue with a negative net income of $-48.5M, reflecting a pre-commercial or early-stage biotech profile with 495.7% annual revenue growth. The timing and magnitude of this sale merit monitoring given the strong recent price momentum and the CEO's historical accuracy on prior trades.

Major VC investor Venrock adds 25,000 shares at $9.42; now holds 5.30M shares (25.3% below 52-week high).

Venrock Healthcare Capital Partners III purchased 25,000 shares at $9.42, expanding its position to 5.30M shares. The transaction occurs while KALV trades 25.3% below its 52-week high of $15.39, and the company faces material headwinds: revenue declined 21.3% year-over-year and the company recorded $-48.5M net income in its most recent full fiscal year. The same investor's prior five purchases at KALV in early February all generated positive 30-day returns (ranging from +28.3% to +36.5%), though none have yet reached their 90-day outcome window. Across Venrock's broader portfolio (20 cross-ticker buys), the track record is weaker: average 30-day return of +7.5% but 90-day win rate of 0.00%, suggesting earlier gains often reverse. The timing of this incremental buy relative to fundamental deterioration and prior trade outcomes merits scrutiny.

Venrock Healthcare Capital Partners III buys 161,700 KALV shares in 2 transactions ($1.5M) as 10% owner; blended $9.27 vs current $9.76

Venrock Healthcare Capital Partners III, a 10% owner, executed 2 separate purchases totaling 161,700 shares for $1,498,661.00 at a blended average price of $9.27 on 2025-02-12 and 2025-02-13. The current price of $9.76 reflects a modest gain of approximately 5% from the transaction average, positioning the purchase modestly above water in near-term price action. However, the insider's cross-ticker track record reveals a concerning pattern: 20 prior buys across all tickers averaged -2.6% 30-day returns and -17.4% 90-day returns with a 0% win rate at the 90-day mark. KalVista itself is unprofitable with a net income of $-42,268,000.00 over its most recent full fiscal year, quarterly revenue of only $1,577,000.00, and annual revenue growth of -21.3%—fundamentals that suggest material headwinds. The 5 prior KALV purchases by Venrock all occurred within the past two weeks (2025-01-31 through 2025-02-11), indicating a concentrated accumulation pattern at valuations near current levels, but without yet measurable 30- or 90-day outcomes to assess their merit.

Venrock Healthcare (10% owner) bought 104,489 shares across 3 transactions (Feb 7–11) at blended $9.26, near 52-week low amid -21.3% revenue decline.

Venrock Healthcare Capital Partners III, L.P. executed 3 separate purchases totaling 104,489 shares for $967,144.93 between February 7–11, 2025, at prices averaging $9.26—materially below the 52-week high of $16.04 and within the lower half of the 52-week range. The timing coincides with a period of price recovery (30-day change: +18.1%) after significant deterioration (90-day change: -11.3%). However, this major shareholder's own prior buys at KALV show poor execution: the 2024 purchases posted -1.4% and -2.3% 30-day returns and -16.3% and -18.0% 90-day returns, establishing a pattern of unfavorable entry points at this ticker. The company remains unprofitable (net income: $-42,268,000.00 for the latest period) with contracting revenue (-21.3% annual decline) and a modest market cap of $458,104,730.22. The current purchase increases Venrock's stake by 104,489 shares against holdings of 5,117,285 shares post-transaction, reflecting continued accumulation in a fundamentally challenged biotech investment.

Venrock Healthcare Capital Partners III adds 70,023 shares to 5.01M position via 3 purchases at $8.76–$9.22; stock down 18.0% in 90 days, blended cost $8.88 vs current $9.22.

Venrock Healthcare Capital Partners III, L.P., a 10% shareholder, executed 3 separate purchases totaling 70,023 shares for $621,628.02 between 2025-01-30 and 2025-02-03, raising its stake from 4.94M to 5.01M shares. The blended average purchase price of $8.88 compares favorably to the current price of $9.22 on a mark-to-market basis, but KALV's fundamentals remain stressed: latest quarterly revenue was $1.6M, full-year net income was negative at $-42.3M, and the company posted annual revenue decline of -21.3%. The stock is currently -42.5% from its 52-week high and down 18.0% over 90 days. Notably, Venrock's prior 5 trades at KALV (all buys made in late January and early February 2024) each resulted in negative 90-day returns ranging from -16.3% to -24.2%, with 0 of 5 prior buys well-timed at the 90-day mark—a pattern consistent with the cross-ticker track record showing a 0.00% 90-day win rate across 20 prior buys.