KalVista Pharmaceuticals (NASDAQ:KALV) Sets New 1-Year High - Here's What Happened

Key Points

• KalVista Pharmaceuticals' stock reached a new 52-week high of $16.33 during trading, with a closing price of $16.07 and a trading volume of 461,903 shares.
• Equities analysts have raised their target prices for the company, with JMP Securities and HC Wainwright both setting new targets of $27.00, indicating strong growth prospects.
• The company recently reported an EPS loss of ($3.69), significantly missing analysts’ expectations of ($0.83), but is anticipated to show improvement with a projected EPS of -$3.56 for the current year.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $16.33 and last traded at $16.07, with a volume of 461903 shares trading hands. The stock had previously closed at $15.82.

Analyst Upgrades and Downgrades

KALV has been the topic of several research analyst reports. JMP Securities lifted their price objective on KalVista Pharmaceuticals from $27.00 to $28.00 and gave the company a "market outperform" rating in a research note on Friday. Leerink Partners boosted their price target on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, July 7th. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of KalVista Pharmaceuticals in a research report on Friday. Finally, HC Wainwright boosted their price target on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $26.43.

KalVista Pharmaceuticals Trading Down 5.4%

The stock has a 50-day simple moving average of $14.14 and a 200-day simple moving average of $12.79. The company has a market capitalization of $705.26 million, a price-to-earnings ratio of -3.56 and a beta of -0.10.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last announced its earnings results on Thursday, September 11th. The specialty pharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.21). The business had revenue of $1.43 million during the quarter, compared to the consensus estimate of $1.97 million. On average, research analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current year.

Insider Buying and Selling

In other news, CEO Benjamin L. Palleiko sold 7,294 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $15.84, for a total value of $115,536.96. Following the completion of the sale, the chief executive officer directly owned 395,189 shares in the company, valued at approximately $6,259,793.76. The trade was a 1.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul K. Audhya sold 2,336 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $13.42, for a total value of $31,349.12. Following the completion of the sale, the insider owned 122,505 shares of the company's stock, valued at $1,644,017.10. This trade represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,835 shares of company stock valued at $892,350 over the last quarter. Company insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KALV. Ameriprise Financial Inc. bought a new position in KalVista Pharmaceuticals during the 4th quarter worth $452,000. Bank of America Corp DE grew its stake in KalVista Pharmaceuticals by 108.8% during the 4th quarter. Bank of America Corp DE now owns 110,050 shares of the specialty pharmaceutical company's stock worth $932,000 after buying an additional 57,356 shares during the last quarter. Deutsche Bank AG grew its stake in KalVista Pharmaceuticals by 63.5% during the 4th quarter. Deutsche Bank AG now owns 35,841 shares of the specialty pharmaceutical company's stock worth $304,000 after buying an additional 13,923 shares during the last quarter. Graham Capital Management L.P. bought a new position in KalVista Pharmaceuticals during the 4th quarter worth $89,000. Finally, ProShare Advisors LLC bought a new position in shares of KalVista Pharmaceuticals in the fourth quarter worth $101,000.

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).