Adage Capital Partners GP L.L.C. Sells 1,119,792 Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)

Adage Capital Partners GP L.L.C. lowered its position in shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) by 78.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the specialty pharmaceutical company's stock after selling 1,119,792 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.61% of KalVista Pharmaceuticals worth $2,541,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of KalVista Pharmaceuticals in the fourth quarter valued at $634,000. Barclays PLC lifted its stake in KalVista Pharmaceuticals by 418.5% in the 3rd quarter. Barclays PLC now owns 67,222 shares of the specialty pharmaceutical company's stock worth $778,000 after acquiring an additional 54,257 shares in the last quarter. SG Americas Securities LLC boosted its position in KalVista Pharmaceuticals by 10.0% during the 4th quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company's stock worth $123,000 after acquiring an additional 1,319 shares during the period. Wellington Management Group LLP grew its stake in KalVista Pharmaceuticals by 4.2% during the 4th quarter. Wellington Management Group LLP now owns 122,863 shares of the specialty pharmaceutical company's stock valued at $1,041,000 after acquiring an additional 4,940 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in KalVista Pharmaceuticals by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,610 shares of the specialty pharmaceutical company's stock valued at $262,000 after acquiring an additional 1,670 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Benjamin L. Palleiko sold 6,669 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $11.97, for a total transaction of $79,827.93. Following the completion of the sale, the chief executive officer now owns 287,811 shares of the company's stock, valued at $3,445,097.67. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Venrock Healthcare Capital Par bought 25,000 shares of the stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $9.42 per share, with a total value of $235,500.00. Following the acquisition, the insider now owns 5,303,985 shares in the company, valued at approximately $49,963,538.70. This represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 217,348 shares of company stock valued at $2,014,773 and sold 17,292 shares valued at $184,625. Company insiders own 10.50% of the company's stock.

KalVista Pharmaceuticals Price Performance

Shares of NASDAQ KALV traded down $0.05 during mid-day trading on Friday, hitting $13.55. The company's stock had a trading volume of 520,715 shares, compared to its average volume of 410,013. KalVista Pharmaceuticals, Inc. has a one year low of $7.30 and a one year high of $15.50. The company's fifty day simple moving average is $11.90 and its 200-day simple moving average is $10.41. The stock has a market cap of $673.65 million, a price-to-earnings ratio of -3.72 and a beta of 0.05.

Analyst Upgrades and Downgrades

Several research firms recently commented on KALV. Needham & Company LLC restated a "buy" rating and set a $28.00 price target on shares of KalVista Pharmaceuticals in a report on Tuesday, April 8th. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, March 14th. TD Cowen began coverage on KalVista Pharmaceuticals in a report on Tuesday, January 7th. They issued a "buy" rating and a $30.00 target price on the stock. Jones Trading restated a "buy" rating and set a $30.00 price objective on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Finally, Citizens Jmp upgraded KalVista Pharmaceuticals to a "strong-buy" rating in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $24.83.

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).