KalVista Pharmaceuticals (NASDAQ:KALV) Hits New 1-Year High – What’s Next?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.85 and last traded at $26.8050, with a volume of 586137 shares. The stock had previously closed at $26.73.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citizens Jmp downgraded shares of KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Needham & Company LLC cut shares of KalVista Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 30th. HC Wainwright downgraded KalVista Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $37.00 to $27.00 in a research report on Friday, May 1st. Leerink Partners lowered KalVista Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.60.

KalVista Pharmaceuticals Stock Performance

The firm’s fifty day moving average price is $19.76 and its 200-day moving average price is $16.43. The company has a current ratio of 7.22, a quick ratio of 7.21 and a debt-to-equity ratio of 8.18. The company has a market cap of $1.37 billion, a P/E ratio of -6.79 and a beta of -0.12.

Insider Buying and Selling at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 9,550 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $20.22, for a total value of $193,101.00. Following the completion of the sale, the chief executive officer owned 462,577 shares in the company, valued at approximately $9,353,306.94. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Piekos sold 1,862 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $20.22, for a total value of $37,649.64. Following the sale, the chief financial officer owned 18,150 shares in the company, valued at approximately $366,993. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 263,969 shares of company stock valued at $4,536,178 over the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KALV. Parallel Advisors LLC lifted its holdings in KalVista Pharmaceuticals by 45.8% during the 1st quarter. Parallel Advisors LLC now owns 1,876 shares of the specialty pharmaceutical company’s stock valued at $38,000 after purchasing an additional 589 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in KalVista Pharmaceuticals by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 14,626 shares of the specialty pharmaceutical company’s stock worth $165,000 after buying an additional 818 shares during the last quarter. BNP Paribas Financial Markets grew its stake in KalVista Pharmaceuticals by 47.0% during the second quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company’s stock worth $46,000 after buying an additional 1,292 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of KalVista Pharmaceuticals by 2.8% during the second quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company’s stock worth $615,000 after buying an additional 1,458 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of KalVista Pharmaceuticals by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 324,369 shares of the specialty pharmaceutical company’s stock worth $5,239,000 after buying an additional 2,402 shares in the last quarter.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals is a clinical?stage biotechnology company focused on the discovery and development of small?molecule protease inhibitors for orphan and specialty disease indications. The firm’s scientific platform centers on selective inhibition of plasma kallikrein, a serine protease implicated in disorders characterized by vascular leak, edema and inflammation. KalVista’s approach leverages oral and intravitreal delivery formats to target both systemic and ophthalmic conditions.

The company’s lead programs include an oral plasma kallikrein inhibitor in clinical trials for the acute treatment of hereditary angioedema (HAE) attacks and an intravitreal kallikrein inhibitor being evaluated for diabetic macular edema.