KalVista Pharmaceuticals (NASDAQ:KALV) Trading Up 8.7% – What’s Next?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)’s share price traded up 8.7% during trading on Wednesday . The stock traded as high as $10.59 and last traded at $10.63. 241,567 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 295,156 shares. The stock had previously closed at $9.78.

Analysts Set New Price Targets

Several analysts recently weighed in on KALV shares. Bank of America started coverage on KalVista Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $22.00 price target for the company. TD Cowen assumed coverage on KalVista Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $30.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of KalVista Pharmaceuticals in a research note on Friday, December 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th. Finally, JMP Securities initiated coverage on shares of KalVista Pharmaceuticals in a report on Friday, January 31st. They issued an “outperform” rating and a $19.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, KalVista Pharmaceuticals has an average rating of “Buy” and a consensus price target of $23.80.

KalVista Pharmaceuticals Price Performance

The firm has a market cap of $529.29 million, a P/E ratio of -2.94 and a beta of 0.85. The company’s 50-day moving average is $8.77 and its two-hundred day moving average is $10.43.

KalVista Pharmaceuticals (NASDAQ:KALV) last issued its earnings results on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.01. On average, analysts expect that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling at KalVista Pharmaceuticals

In related news, major shareholder Venrock Healthcare Capital Par acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was acquired at an average cost of $9.23 per share, for a total transaction of $923,000.00. Following the transaction, the insider now directly owns 5,217,285 shares in the company, valued at $48,155,540.55. This trade represents a 1.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Benjamin L. Palleiko sold 7,627 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $9.75, for a total transaction of $74,363.25. Following the completion of the transaction, the chief executive officer now directly owns 274,596 shares of the company’s stock, valued at approximately $2,677,311. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 236,055 shares of company stock valued at $2,162,146. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State Street Corp grew its position in KalVista Pharmaceuticals by 68.1% during the 3rd quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock worth $14,725,000 after acquiring an additional 515,179 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of KalVista Pharmaceuticals during the fourth quarter worth about $634,000. Vestal Point Capital LP increased its stake in shares of KalVista Pharmaceuticals by 73.9% in the third quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock valued at $46,320,000 after buying an additional 1,700,000 shares during the period. Barclays PLC raised its holdings in KalVista Pharmaceuticals by 418.5% in the 3rd quarter. Barclays PLC now owns 67,222 shares of the specialty pharmaceutical company’s stock valued at $778,000 after buying an additional 54,257 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in KalVista Pharmaceuticals during the 3rd quarter worth approximately $2,084,000.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of drug therapies inhibitors for diseases with unmet needs. The company’s product candidate is Sebetralstat, a small molecule plasma kallikrein inhibitor targeting the disease of hereditary angioedema (HAE).