Tang Capital Management KALV Position
Active7-Fund ConvergenceTang Capital Management trimmed their position in KalVista Pharmaceuticals, Inc. (KALV) in Q4 2025, holding $73.9M worth of shares across 4,573,530 shares.
The position was first reported in Q1 2023 and has been tracked across 12 quarterly 13F filings.
KALV is a convergence signal: 7 specialist biotech funds hold this stock, suggesting high institutional conviction.
There is an upcoming Phase 3 readout for KVD900 600 mg in 75 days (Jun 30, 2026), making the timing of Tang Capital's position particularly relevant.
Short interest stands at 42.9% of float with 23.1 days to cover, indicating significant bearish positioning against Tang Capital's long thesis.
About KalVista Pharmaceuticals, Inc.
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. Its products include KVD001, a plasma kallikrein inhibitor that completed a Phase II clinical trial for the treatment of DME; sebetralstat, which is initiation of the Phase 3 KONFIDENT trial as a potential oral, on-demand therapy for HAE attacks; KVD824, an oral product candidate for the treatment of HAE; and Factor XIIa, an oral inhibitor program which is in preclinical stage targets an enzyme in HAE. The company is headquartered in Cambridge, Massachusetts.
Full company profile →Short Interest
42.9%
23.1 days to cover
Tang Capital Management KALV Position History
| Quarter | Action | Shares | Change | Value |
|---|---|---|---|---|
| Q4 2025 | Decreased | 4,573,530 | -468,268 | $73.9M |
| Q3 2025 | Increased | 5,041,798 | +100,000 | $61.4M |
| Q2 2025 | Held | 4,941,798 | — | $55.9M |
| Q1 2025 | Increased | 4,941,798 | +47,951 | $57.0M |
| Q4 2024 | Increased | 4,893,847 | +572,300 | $41.5M |
| Q3 2024 | Increased | 4,321,547 | +102,718 | $50.0M |
| Q2 2024 | Increased | 4,218,829 | +93,484 | $49.7M |
| Q1 2024 | Increased | 4,125,345 | +685,000 | $48.9M |
| Q4 2023 | Held | 3,440,345 | — | $42.1M |
| Q3 2023 | Increased | 3,440,345 | +788,952 | $33.1M |
| Q2 2023 | Held | 2,651,393 | — | $23.9M |
| Q1 2023 | New | 2,651,393 | +2,651,393 | $20.8M |
Frequently Asked Questions
Does Tang Capital Management own KALV?
Yes. As of Q4 2025, Tang Capital Management holds 4,573,530 shares of KalVista Pharmaceuticals, Inc. (KALV) valued at $73.9M. This data comes from their SEC 13F filing.
How many hedge funds own KALV?
7 specialist biotech hedge funds currently hold KALV, including Boxer Capital, Driehaus Capital, OrbiMed Advisors and 3 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did Tang Capital Management first buy KALV?
Tang Capital Management's position in KALV was first reported in Q1 2023. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is Tang Capital Management's KALV position increasing or decreasing?
Tang Capital Management trimmed their KALV position in the most recent quarter, reducing by 468,268 shares.
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