KalVista Pharmaceuticals (NASDAQ:KALV) Hits New 1-Year High After Analyst Upgrade

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday after JMP Securities raised their price target on the stock from $19.00 to $27.00. JMP Securities currently has a market outperform rating on the stock. KalVista Pharmaceuticals traded as high as $15.91 and last traded at $15.06, with a volume of 11289568 shares traded. The stock had previously closed at $11.98.

KALV has been the topic of several other research reports. Leerink Partners upped their price objective on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday. Jones Trading reaffirmed a "buy" rating and set a $30.00 price target on shares of KalVista Pharmaceuticals in a research note on Wednesday, March 26th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 8th. Finally, HC Wainwright upped their target price on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $26.29.

Insider Buying and Selling

In related news, CEO Benjamin L. Palleiko sold 32,979 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $15.69, for a total value of $517,440.51. Following the completion of the transaction, the chief executive officer owned 369,595 shares of the company's stock, valued at approximately $5,798,945.55. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul K. Audhya sold 2,776 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.84, for a total transaction of $32,867.84. Following the transaction, the insider owned 106,611 shares in the company, valued at approximately $1,262,274.24. The trade was a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,878 shares of company stock worth $723,617. Insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KALV. Legal & General Group Plc increased its stake in shares of 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 purchasing an additional 1,494 shares during the period. Rhumbline Advisers boosted its stake in KalVista Pharmaceuticals by 3.4% in the 1st quarter. Rhumbline Advisers now owns 52,918 shares of the specialty pharmaceutical company's stock valued at $611,000 after purchasing an additional 1,762 shares during the period. Corebridge Financial Inc. grew its holdings in KalVista Pharmaceuticals by 12.7% in the 1st quarter. Corebridge Financial Inc. now owns 19,094 shares of the specialty pharmaceutical company's stock valued at $220,000 after buying an additional 2,149 shares in the last quarter. MetLife Investment Management LLC increased its position in KalVista Pharmaceuticals by 13.2% during the 1st quarter. MetLife Investment Management LLC now owns 21,688 shares of the specialty pharmaceutical company's stock worth $250,000 after buying an additional 2,536 shares during the period. Finally, AlphaQuest LLC increased its position in KalVista Pharmaceuticals by 17.1% during the 4th quarter. AlphaQuest LLC now owns 17,700 shares of the specialty pharmaceutical company's stock worth $150,000 after buying an additional 2,588 shares during the period.

KalVista Pharmaceuticals Stock Down 6.4%

The stock has a fifty day moving average price of $12.55 and a two-hundred day moving average price of $11.19. The company has a market cap of $721.93 million, a price-to-earnings ratio of -3.90 and a beta of -0.04.

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

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).