KalVista Pharmaceuticals (NASDAQ:KALV) Shares Gap Up Following Analyst Upgrade

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) gapped up before the market opened on Monday after JMP Securities raised their price target on the stock from $19.00 to $27.00. The stock had previously closed at $11.98, but opened at $14.02. JMP Securities currently has a market outperform rating on the stock. KalVista Pharmaceuticals shares last traded at $14.02, with a volume of 3,560,127 shares trading hands.

A number of other research analysts also recently commented on KALV. Jones Trading reiterated a "buy" rating and set a $30.00 price objective on shares of KalVista Pharmaceuticals in a research note on Wednesday, March 26th. HC Wainwright raised their price target on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Leerink Partners raised their price target on shares of KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday. 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 stock currently has an average rating of "Buy" and an average price target of $26.29.

Insider Transactions at KalVista Pharmaceuticals

In related news, insider Paul K. Audhya sold 2,776 shares of the 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 owned 106,611 shares of the company's stock, valued at $1,262,274.24. This trade represents a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Benjamin L. Palleiko sold 7,169 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $14.50, for a total transaction of $103,950.50. Following the transaction, the chief executive officer directly owned 315,074 shares in the company, valued at approximately $4,568,573. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,899 shares of company stock worth $206,176. Corporate insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Earned Wealth Advisors LLC acquired a new position in KalVista Pharmaceuticals during the 1st quarter valued at about $44,000. GAMMA Investing LLC increased its stake in KalVista Pharmaceuticals by 567.3% during the 1st quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company's stock valued at $51,000 after buying an additional 3,767 shares during the period. CWM LLC increased its stake 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 valued at $53,000 after buying an additional 4,549 shares during the period. Aquatic Capital Management LLC acquired a new position in KalVista Pharmaceuticals during the 4th quarter valued at about $44,000. Finally, Tower Research Capital LLC TRC grew 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 worth $54,000 after purchasing an additional 5,502 shares during the last quarter.

KalVista Pharmaceuticals Stock Performance

The company's 50 day moving average price is $12.51 and its 200-day moving average price is $11.14. The company has a market cap of $771.16 million, a price-to-earnings ratio of -4.17 and a beta of -0.04.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($2.86). During the same period in the prior year, the business earned ($1.07) EPS. As a group, sell-side analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current 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).