KALV KalVista Pharmaceuticals, Inc.
Price Chart
Executive Summary
Three C-suite insiders at KalVista (CEO, CMO, CDO) sold a combined $87K in open-market sales on May 18, 2026, at $26.76/share. This follows a separate cluster of CMO and CFO sales on May 21-22 totaling $112K, including derivative exercises. Total insider selling of ~$199K over 7 days is modest relative to the $1.4B market cap (0.014%), but the cluster involves the CEO and multiple senior executives, which is notable for a pre-commercial biotech awaiting a pivotal catalyst.
Key Financial Metrics
Actionable Insight
While the dollar amount is small, the cluster involves the CEO and three other C-suite officers selling within a week — unusual for a pre-commercial biotech with a single pipeline asset. This may signal insider caution ahead of a binary catalyst (sebetralstat data or regulatory update). Monitor for any 8-K or press release in the next 2-4 weeks. The historical calibration shows bearish calls on KALV have underperformed (avg T+20 alpha -9.3%), so this signal should be taken as a modest caution flag, not a strong short thesis.
Key Facts
- CEO Benjamin Palleiko sold 1,100 shares for $30K on May 18
- CMO Paul Audhya sold 1,000 shares for $28K on May 18, plus 2,685 shares for $72K on May 22
- CDO Christopher Yea sold 1,100 shares for $30K on May 18
- CFO Brian Piekos sold 1,489 shares for $40K on May 22
- Total open-market sales in cluster: $87K (0.006% of market cap)
- Combined with prior 5-day cluster: ~$199K total insider sales (0.014% of market cap)
- CMO and CFO also exercised stock options (non-cash) on May 21
- KalVista is a pre-revenue biotech with a $1.4B market cap, awaiting sebetralstat (hereditary angioedema) catalyst
Financial Impact
Total insider sales of ~$199K, or 0.014% of $1.4B market cap — economically trivial in absolute terms
Risk Factors
- Insider sales may be 10b5-1 plan-driven or for tax/estate planning, not informational
- Dollar amount is tiny relative to market cap — could be routine portfolio rebalancing
- Historical bearish calls on KALV have underperformed (avg T+20 alpha -9.3%)
- Pre-commercial biotech stock prices are driven by pipeline catalysts, not insider trading patterns
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-KALV-1779838419890 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 19, 2026
21d ago
|
Insider Cluster
| $26.81 $26.79 | ▲ +0.07% | ▲ +1.31% | $26.99 (−0.67%) |
|
May 19, 2026
21d ago
|
Insider Cluster
| $26.81 $26.79 | ▼ −0.07% | ▼ −1.31% | $26.99 (+0.67%) |
|
Apr 29, 2026
5w ago
|
8-K
| $26.67 $26.71 | ▲ +0.15% | ▼ −2.96% | $26.99 (+1.20%) |
|
Apr 17, 2026
7w ago
|
Insider Cluster
| $20.48 $19.63 | ▲ +4.15% | ▲ +4.71% | $26.99 (−31.79%) |
|
Feb 23, 2026
15w ago
|
Insider Cluster
| $15.56 $16.06 | ▼ −3.21% | ▼ −2.59% | $26.99 (−73.46%) |
|
Feb 23, 2026
15w ago
|
Insider Cluster
| $15.56 $16.06 | ▼ −3.21% | ▼ −2.59% | $26.99 (−73.46%) |
|
Feb 23, 2026
15w ago
|
Insider Cluster
| $15.56 $16.06 | ▼ −3.21% | ▼ −2.59% | $26.99 (−73.46%) |
|
Feb 23, 2026
15w ago
|
Insider Cluster
| $15.56 $16.06 | ▲ +3.21% | ▲ +2.59% | $26.99 (+73.46%) |
US Market Status
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