KalVista Pharmaceuticals (NASDAQ:KALV) Trading 8.7% Higher – Should You Buy?

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

Wall Street Analyst Weigh In

KALV has been the topic of a number of recent analyst reports. TD Cowen began coverage on shares of KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a report on Thursday, December 5th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of KalVista Pharmaceuticals in a report on Friday, December 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of KalVista Pharmaceuticals in a research note on Monday, December 9th. Finally, Citizens Jmp upgraded KalVista Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $23.80.

KalVista Pharmaceuticals Stock Performance

The company has a market capitalization of $529.29 million, a price-to-earnings ratio of -2.94 and a beta of 0.85. The company has a 50 day moving average price of $8.77 and a 200 day moving average price of $10.43.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings data on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.01. Research analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Benjamin L. Palleiko sold 7,627 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $9.75, for a total transaction of $74,363.25. Following the completion of the sale, the chief executive officer now owns 274,596 shares in the company, valued at approximately $2,677,311. This represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Venrock Healthcare Capital Par acquired 43,707 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $8.76 per share, for a total transaction of $382,873.32. Following the completion of the purchase, the insider now owns 4,986,480 shares in the company, valued at approximately $43,681,564.80. This represents a 0.88 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 236,055 shares of company stock worth $2,162,146. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KALV. SG Americas Securities LLC increased its stake in KalVista Pharmaceuticals by 10.0% in the 4th quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company’s stock valued at $123,000 after buying an additional 1,319 shares during the last quarter. HighVista Strategies LLC grew its position in KalVista Pharmaceuticals by 4.5% during the third quarter. HighVista Strategies LLC now owns 33,305 shares of the specialty pharmaceutical company’s stock valued at $386,000 after buying an additional 1,432 shares during the period. Legal & General Group Plc increased its holdings in KalVista Pharmaceuticals by 22.5% during the fourth quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock worth $69,000 after buying an additional 1,494 shares during the last quarter. JPMorgan Chase & Co. raised its position in KalVista Pharmaceuticals by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 22,610 shares of the specialty pharmaceutical company’s stock worth $262,000 after acquiring an additional 1,670 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in KalVista Pharmaceuticals by 24.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock valued at $87,000 after acquiring an additional 2,043 shares during the last quarter.

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).