KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Up 5.8% - Here's Why

Key Points

• KalVista Pharmaceuticals' stock rose 5.8% to $14.24, despite a significant drop in trading volume, with approximately 294,731 shares changing hands.
• Analysts have recently upgraded KalVista's target price, with HC Wainwright raising it from $20.00 to $27.00 and maintaining a "buy" rating.
• The company reported a loss of ($3.69) EPS in its latest earnings, missing the consensus estimate of ($0.83) by a large margin.

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) shares rose 5.8% on Tuesday . The company traded as high as $14.16 and last traded at $14.24. Approximately 294,731 shares changed hands during trading, a decline of 62% from the average daily volume of 772,547 shares. The stock had previously closed at $13.46.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KALV shares. Leerink Partners boosted their target price on shares of KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, July 7th. HC Wainwright boosted their target price on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, JMP Securities boosted their target price on shares of KalVista Pharmaceuticals from $19.00 to $27.00 and gave the company a "market outperform" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $26.29.

KalVista Pharmaceuticals Stock Performance

The firm's 50 day moving average is $13.53 and its two-hundred day moving average is $12.53. The stock has a market capitalization of $711.30 million, a PE ratio of -3.83 and a beta of -0.10.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last announced its earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share 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 anticipate that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current year.

Insider Activity at KalVista Pharmaceuticals

In related news, CEO Benjamin L. Palleiko sold 10,940 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $13.22, for a total transaction of $144,626.80. Following the sale, the chief executive officer directly owned 386,858 shares of the company's stock, valued at $5,114,262.76. This represents a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul K. Audhya sold 2,336 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $13.42, for a total transaction of $31,349.12. Following the sale, the insider directly owned 122,505 shares in the company, valued at approximately $1,644,017.10. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,710 shares of company stock worth $880,764. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of large investors have recently modified their holdings of KALV. Octagon Capital Advisors LP acquired a new stake in shares of KalVista Pharmaceuticals in the fourth quarter valued at about $11,604,000. Frazier Life Sciences Management L.P. increased its holdings in KalVista Pharmaceuticals by 32.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company's stock valued at $41,400,000 after acquiring an additional 1,200,000 shares in the last quarter. Stempoint Capital LP purchased a new stake in shares of KalVista Pharmaceuticals during the fourth quarter worth about $8,409,000. Ameriprise Financial Inc. grew its holdings in shares of KalVista Pharmaceuticals by 2,258.6% during the second quarter. Ameriprise Financial Inc. now owns 945,125 shares of the specialty pharmaceutical company's stock worth $10,685,000 after buying an additional 905,053 shares in the last quarter. Finally, Vestal Point Capital LP boosted its position in shares of KalVista Pharmaceuticals by 19.3% in the fourth quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company's stock worth $40,402,000 after acquiring an additional 770,000 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).

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