KalVista Pharmaceuticals’ (KALV) Buy Rating Reiterated at Jones Trading

Jones Trading restated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a report released on Wednesday,Benzinga reports. The firm currently has a $30.00 target price on the specialty pharmaceutical company’s stock.

Several other research analysts have also weighed in on KALV. TD Cowen assumed coverage on shares of KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 target price on the stock. Citizens Jmp upgraded KalVista Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 31st. JMP Securities began coverage on KalVista Pharmaceuticals in a report on Friday, January 31st. They set an “outperform” rating and a $19.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a report on Thursday, March 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of KalVista Pharmaceuticals in a research note on Friday, March 14th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, KalVista Pharmaceuticals currently has an average rating of “Buy” and an average price target of $24.83.

KalVista Pharmaceuticals Stock Performance

Shares of NASDAQ KALV opened at $11.93 on Wednesday. The company’s fifty day moving average is $10.56 and its two-hundred day moving average is $10.26. The firm has a market capitalization of $593.11 million, a P/E ratio of -3.28 and a beta of 0.76. KalVista Pharmaceuticals has a one year low of $7.30 and a one year high of $15.50.

Insider Activity

In related news, insider Paul K. Audhya sold 3,125 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total value of $30,687.50. Following the completion of the transaction, the insider now owns 100,334 shares of the company’s stock, valued at approximately $985,279.88. The trade was a 3.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Benjamin L. Palleiko sold 5,104 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total transaction of $50,121.28. Following the sale, the chief executive officer now directly owns 278,855 shares in the company, valued at $2,738,356.10. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 236,055 shares of company stock worth $2,162,146 and have sold 17,292 shares worth $184,625. Company insiders own 10.50% of the company’s stock.

Institutional Trading of KalVista Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of KALV. Wellington Management Group LLP boosted its holdings in shares of KalVista Pharmaceuticals by 4.2% during the fourth quarter. Wellington Management Group LLP now owns 122,863 shares of the specialty pharmaceutical company’s stock worth $1,041,000 after purchasing an additional 4,940 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its stake in KalVista Pharmaceuticals by 32.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company’s stock worth $41,400,000 after buying an additional 1,200,000 shares during the last quarter. Woodline Partners LP grew its holdings in KalVista Pharmaceuticals by 111.8% in the 4th quarter. Woodline Partners LP now owns 1,288,401 shares of the specialty pharmaceutical company’s stock valued at $10,913,000 after buying an additional 680,148 shares during the period. Vestal Point Capital LP increased its stake in shares of KalVista Pharmaceuticals by 19.3% during the 4th quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company’s stock valued at $40,402,000 after acquiring an additional 770,000 shares during the last quarter. Finally, Tang Capital Management LLC lifted its holdings in shares of KalVista Pharmaceuticals by 13.2% during the 4th quarter. Tang Capital Management LLC now owns 4,893,847 shares of the specialty pharmaceutical company’s stock worth $41,451,000 after acquiring an additional 572,300 shares during the period.

KalVista Pharmaceuticals Company Profile

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).