KalVista Pharmaceuticals (NASDAQ:KALV) Stock Crosses Above 50-Day Moving Average - Should You Sell?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $13.04 and traded as high as $16.09. KalVista Pharmaceuticals shares last traded at $15.56, with a volume of 1,157,051 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on KALV. Needham & Company LLC restated a "buy" rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 8th. HC Wainwright lifted 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, July 8th. JMP Securities lifted their price target on shares of KalVista Pharmaceuticals from $19.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 8th. Finally, Leerink Partners lifted 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, July 7th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $26.29.

KalVista Pharmaceuticals Stock Down 3.2%

The stock has a fifty day moving average price of $13.25 and a two-hundred day moving average price of $11.75. The company has a market cap of $705.15 million, a price-to-earnings ratio of -3.83 and a beta of -0.04.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its earnings results 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) earnings per share. Analysts predict that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Benjamin L. Palleiko sold 32,979 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $15.69, for a total value of $517,440.51. Following the completion of the sale, the chief executive officer directly owned 369,595 shares in the company, valued at $5,798,945.55. This represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul K. Audhya sold 2,776 shares of KalVista Pharmaceuticals 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 directly owned 106,611 shares of the company's stock, valued at $1,262,274.24. This represents a 2.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,878 shares of company stock valued at $723,617. 10.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several large investors have recently added to or reduced their stakes in KALV. Suvretta Capital Management LLC grew its holdings in KalVista Pharmaceuticals by 16.6% during the fourth quarter. Suvretta Capital Management LLC now owns 4,913,012 shares of the specialty pharmaceutical company's stock valued at $41,613,000 after purchasing an additional 701,007 shares during the period. Tang Capital Management LLC grew its stake in shares of KalVista Pharmaceuticals by 13.2% during the 4th quarter. Tang Capital Management LLC now owns 4,893,847 shares of the specialty pharmaceutical company's stock worth $41,451,000 after acquiring an additional 572,300 shares during the period. Frazier Life Sciences Management L.P. increased its holdings in KalVista Pharmaceuticals by 32.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company's stock worth $41,400,000 after acquiring an additional 1,200,000 shares during the last quarter. Vestal Point Capital LP raised its stake in KalVista Pharmaceuticals by 19.3% in the 4th quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company's stock valued at $40,402,000 after acquiring an additional 770,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in KalVista Pharmaceuticals by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 2,298,598 shares of the specialty pharmaceutical company's stock valued at $26,526,000 after acquiring an additional 43,355 shares during the period.

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).