KalVista Pharmaceuticals (NASDAQ:KALV) Sees Large Volume Increase - Here's Why

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 2,542,387 shares changed hands during mid-day trading, an increase of 434% from the previous session's volume of 476,075 shares.The stock last traded at $11.20 and had previously closed at $11.93.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of KalVista Pharmaceuticals in a report on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Jones Trading reiterated a "buy" rating and issued a $30.00 price target on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $24.83.

KalVista Pharmaceuticals Trading Down 1.9%

The firm has a market capitalization of $581.72 million, a P/E ratio of -3.15 and a beta of -0.01. The stock has a 50-day simple moving average of $12.50 and a two-hundred day simple moving average of $10.86.

Insider Activity at KalVista Pharmaceuticals

In related news, major shareholder Venrock Healthcare Capital Par purchased 25,000 shares of KalVista Pharmaceuticals stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average cost of $9.42 per share, with a total value of $235,500.00. Following the transaction, the insider now owns 5,303,985 shares in the company, valued at approximately $49,963,538.70. The trade was a 0.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul K. Audhya sold 2,776 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.84, for a total value of $32,867.84. Following the sale, the insider now directly owns 106,611 shares in the company, valued at approximately $1,262,274.24. The trade was a 2.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,899 shares of company stock worth $206,176 over the last three months. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. Aquatic Capital Management LLC purchased a new stake in KalVista Pharmaceuticals in the fourth quarter valued at about $44,000. Earned Wealth Advisors LLC purchased a new position in shares of KalVista Pharmaceuticals in the first quarter worth $44,000. GAMMA Investing LLC lifted its stake in shares of KalVista Pharmaceuticals by 567.3% during the first quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock worth $51,000 after buying an additional 3,767 shares during the period. CWM LLC lifted its position in 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 acquiring an additional 4,549 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of KalVista Pharmaceuticals by 666.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company's stock worth $54,000 after purchasing an additional 5,502 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).

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