KalVista Pharmaceuticals (NASDAQ:KALV) Hits New 52-Week 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)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $16.33 and last traded at $16.07, with a volume of 461903 shares changing hands. The stock had previously closed at $15.82.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JMP Securities increased their target price on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 8th. HC Wainwright increased their target price on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Leerink Partners increased their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat, KalVista Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $26.29.

KalVista Pharmaceuticals Price Performance

The company has a 50-day simple moving average of $13.79 and a two-hundred day simple moving average of $12.66. The stock has a market capitalization of $803.43 million, a price-to-earnings ratio of -4.33 and a beta of -0.10.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($2.86). During the same quarter in the prior year, the business earned ($1.07) earnings per share. Research analysts anticipate that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current year.

Insider Activity

In related news, insider Paul K. Audhya sold 2,336 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $13.42, for a total value of $31,349.12. Following the completion of the sale, the insider directly owned 122,505 shares of the company's stock, valued at approximately $1,644,017.10. This represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Benjamin L. Palleiko sold 10,940 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $13.22, for a total value of $144,626.80. Following the completion of the sale, the chief executive officer directly owned 386,858 shares of the company's stock, valued at approximately $5,114,262.76. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,541 shares of company stock valued at $776,813. Company insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Earned Wealth Advisors LLC purchased a new stake in shares of KalVista Pharmaceuticals during the 1st quarter worth about $44,000. BNP Paribas Financial Markets raised its stake in shares of KalVista Pharmaceuticals by 47.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company's stock worth $46,000 after purchasing an additional 1,292 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of KalVista Pharmaceuticals by 567.3% during the 1st quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock worth $51,000 after purchasing an additional 3,767 shares in the last quarter. CWM LLC raised its stake in shares of KalVista Pharmaceuticals by 12,636.1% during the 1st quarter. CWM LLC now owns 4,585 shares of the specialty pharmaceutical company's stock worth $53,000 after purchasing an additional 4,549 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of KalVista Pharmaceuticals by 666.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company's stock valued at $54,000 after acquiring an additional 5,502 shares in the last quarter.

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).

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