KalVista Pharmaceuticals (NASDAQ:KALV) Shares Gap Up - Here's What Happened

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) 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 trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KALV. Leerink Partners lifted their target price on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday. Jones Trading reaffirmed a "buy" rating and set a $30.00 price objective on shares of KalVista Pharmaceuticals in a research note on Wednesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, March 14th. Eight investment 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, KalVista Pharmaceuticals presently has an average rating of "Buy" and an average price target of $24.14.

KalVista Pharmaceuticals Price Performance

The stock has a market capitalization of $748.78 million, a price-to-earnings ratio of -4.05 and a beta of -0.04. The business has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $11.04.

Insider Activity

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 7,169 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $14.50, for a total value of $103,950.50. Following the sale, the chief executive officer owned 315,074 shares in the company, valued at $4,568,573. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Venrock Healthcare Capital Par acquired 25,000 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was acquired at an average price of $9.42 per share, for a total transaction of $235,500.00. Following the purchase, the insider directly owned 5,303,985 shares of the company's stock, valued at approximately $49,963,538.70. This trade represents a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 15,899 shares of company stock worth $206,176 over the last three months. Corporate insiders own 10.50% of the company's stock.

Institutional Trading of KalVista Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in shares of KalVista Pharmaceuticals by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 339,936 shares of the specialty pharmaceutical company's stock valued at $3,923,000 after purchasing an additional 12,263 shares during the last quarter. Rhumbline Advisers grew its position in shares of KalVista Pharmaceuticals by 3.4% in the first 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 last quarter. Woodline Partners LP grew its position in shares of KalVista Pharmaceuticals by 25.5% in the first quarter. Woodline Partners LP now owns 1,617,469 shares of the specialty pharmaceutical company's stock valued at $18,666,000 after purchasing an additional 329,068 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of KalVista Pharmaceuticals in the first quarter valued at approximately $8,698,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of KalVista Pharmaceuticals by 13.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,325 shares of the specialty pharmaceutical company's stock valued at $281,000 after purchasing an additional 2,939 shares during 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).