KalVista Pharmaceuticals (NASDAQ:KALV) Shares Gap Up - Time to Buy?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.98, but opened at $14.02. KalVista Pharmaceuticals shares last traded at $14.02, with a volume of 3,560,127 shares traded.

Analyst Upgrades and Downgrades

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

KalVista Pharmaceuticals Stock Performance

The business has a fifty day moving average of $12.47 and a two-hundred day moving average of $11.11. The firm has a market cap of $743.31 million, a price-to-earnings ratio of -4.02 and a beta of -0.04.

Insider Buying and Selling at KalVista Pharmaceuticals

In other news, insider Paul K. Audhya sold 2,776 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Benjamin L. Palleiko sold 7,169 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 315,074 shares in the company, valued at $4,568,573. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,899 shares of company stock worth $206,176. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of large investors have recently bought and sold shares of KALV. AlphaQuest LLC lifted its stake in shares of KalVista Pharmaceuticals by 17.1% in the fourth quarter. AlphaQuest LLC now owns 17,700 shares of the specialty pharmaceutical company's stock valued at $150,000 after buying an additional 2,588 shares during the period. Intech Investment Management LLC boosted its stake in KalVista Pharmaceuticals by 58.5% in the fourth quarter. Intech Investment Management LLC now owns 17,204 shares of the specialty pharmaceutical company's stock valued at $146,000 after acquiring an additional 6,349 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of KalVista Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 2,255,243 shares of the specialty pharmaceutical company's stock worth $19,102,000 after purchasing an additional 104,716 shares in the last quarter. Schroder Investment Management Group increased its stake in KalVista Pharmaceuticals by 86.8% in the 4th quarter. Schroder Investment Management Group now owns 805,445 shares of the specialty pharmaceutical company's stock valued at $6,758,000 after buying an additional 374,213 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of KalVista Pharmaceuticals by 4.2% during the 4th quarter. Wellington Management Group LLP now owns 122,863 shares of the specialty pharmaceutical company's stock worth $1,041,000 after purchasing an additional 4,940 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).