KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Up 3.7% - Time to Buy?

Key Points

• KalVista Pharmaceuticals stock increased by 3.7% on Thursday to close at $13.06, though the trading volume was significantly lower than average.
• Analysts from HC Wainwright and JMP Securities raised their price targets for the stock to $27.00, with eight out of nine analysts recommending a buy rating.
• The company reported a quarterly earnings loss of ($3.69) EPS, significantly missing the consensus estimate, and is projected to post a loss of -3.56 EPS for the current fiscal year.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s share price shot up 3.7% during trading on Thursday . The stock traded as high as $13.06 and last traded at $13.06. 128,461 shares were traded during trading, a decline of 84% from the average session volume of 783,408 shares. The stock had previously closed at $12.59.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. HC Wainwright boosted their price objective on KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. JMP Securities increased their target price on KalVista Pharmaceuticals from $19.00 to $27.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 8th. Finally, Leerink Partners raised their price objective on KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, July 7th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $26.29.

KalVista Pharmaceuticals Price Performance

The company's 50-day moving average is $13.51 and its two-hundred day moving average is $12.13. The firm has a market cap of $642.36 million, a P/E ratio of -3.49 and a beta of 0.05.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) EPS for the quarter, missing the consensus estimate of ($0.83) by ($2.86). During the same period in the previous year, the firm earned ($1.07) EPS. On average, analysts expect that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current fiscal year.

Insider Transactions at KalVista Pharmaceuticals

In related news, insider Paul K. Audhya sold 2,776 shares of the business's stock in a transaction on Monday, May 19th. The stock was 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 in the company, valued at approximately $1,262,274.24. The trade was a 2.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Benjamin L. Palleiko sold 32,979 shares of KalVista Pharmaceuticals stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $15.69, for a total value of $517,440.51. Following the completion of the transaction, the chief executive officer owned 369,595 shares of the company's stock, valued at approximately $5,798,945.55. This trade represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,878 shares of company stock worth $723,617 over the last three months. Corporate insiders own 10.50% of the company's stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in KalVista Pharmaceuticals by 2.8% during the second quarter. Rhumbline Advisers now owns 54,376 shares of the specialty pharmaceutical company's stock worth $615,000 after buying an additional 1,458 shares during the last quarter. Legal & General Group Plc raised its holdings in KalVista Pharmaceuticals by 22.5% in the fourth quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company's stock worth $69,000 after purchasing an additional 1,494 shares during the period. Police & Firemen s Retirement System of New Jersey increased its position in shares of KalVista Pharmaceuticals by 26.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,756 shares of the specialty pharmaceutical company's stock worth $110,000 after acquiring an additional 2,061 shares in the last quarter. Corebridge Financial Inc. grew its position in KalVista Pharmaceuticals by 12.7% in the first quarter. Corebridge Financial Inc. now owns 19,094 shares of the specialty pharmaceutical company's stock valued at $220,000 after purchasing an additional 2,149 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in KalVista Pharmaceuticals by 13.2% in the first quarter. MetLife Investment Management LLC now owns 21,688 shares of the specialty pharmaceutical company's stock valued at $250,000 after purchasing an additional 2,536 shares in 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).

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