KalVista Pharmaceuticals (NASDAQ:KALV) Shares Gap Down - Time to Sell?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $12.96, but opened at $12.42. KalVista Pharmaceuticals shares last traded at $12.57, with a volume of 347,109 shares.

Analyst Ratings Changes

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

KalVista Pharmaceuticals Stock Up 1.3%

The company has a 50 day moving average of $12.46 and a 200 day moving average of $10.79.

Insiders Place Their Bets

In other news, major shareholder Venrock Healthcare Capital Par bought 25,000 shares of KalVista Pharmaceuticals stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 5,303,985 shares in the company, valued at $49,963,538.70. This trade represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Benjamin L. Palleiko sold 7,169 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $14.50, for a total value of $103,950.50. Following the sale, the chief executive officer now directly owns 315,074 shares in the company, valued at $4,568,573. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,899 shares of company stock valued at $206,176 over the last ninety days. Corporate insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KALV. ProShare Advisors LLC bought a new position in KalVista Pharmaceuticals in the 4th quarter valued at $101,000. Bank of America Corp DE grew its position in shares of KalVista Pharmaceuticals by 108.8% in the 4th quarter. Bank of America Corp DE now owns 110,050 shares of the specialty pharmaceutical company's stock valued at $932,000 after purchasing an additional 57,356 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of KalVista Pharmaceuticals during the fourth quarter worth $452,000. Deutsche Bank AG increased its holdings 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 purchasing an additional 13,923 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of KalVista Pharmaceuticals by 666.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company's stock worth $54,000 after buying 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).