KalVista Pharmaceuticals (NASDAQ:KALV) Shares Up 5.5% on Analyst Upgrade

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s share price rose 5.5% during mid-day trading on Wednesday after JMP Securities raised their price target on the stock from $19.00 to $27.00. JMP Securities currently has a market outperform rating on the stock. KalVista Pharmaceuticals traded as high as $15.64 and last traded at $15.77. Approximately 354,539 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 548,021 shares. The stock had previously closed at $14.95.

Other analysts have also recently issued reports about the stock. HC Wainwright boosted their price objective on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a report on Tuesday, April 8th. Jones Trading reissued a "buy" rating and set a $30.00 price target on shares of KalVista Pharmaceuticals in a research report on Wednesday, March 26th. 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 report on Monday. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, KalVista Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $26.29.

Insider Buying and Selling at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 7,169 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $14.50, for a total transaction of $103,950.50. Following the transaction, the chief executive officer owned 315,074 shares in the company, valued at $4,568,573. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the insider owned 106,611 shares of the company's stock, valued at approximately $1,262,274.24. This trade represents a 2.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,899 shares of company stock valued at $206,176. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC increased its stake in KalVista Pharmaceuticals by 17.1% during the 4th quarter. AlphaQuest LLC now owns 17,700 shares of the specialty pharmaceutical company's stock worth $150,000 after buying an additional 2,588 shares during the period. Intech Investment Management LLC increased its position in shares of KalVista Pharmaceuticals by 58.5% during the fourth quarter. Intech Investment Management LLC now owns 17,204 shares of the specialty pharmaceutical company's stock worth $146,000 after acquiring an additional 6,349 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of KalVista Pharmaceuticals by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 2,255,243 shares of the specialty pharmaceutical company's stock worth $19,102,000 after acquiring an additional 104,716 shares in the last quarter. Schroder Investment Management Group boosted its holdings in KalVista Pharmaceuticals by 86.8% in the fourth quarter. Schroder Investment Management Group now owns 805,445 shares of the specialty pharmaceutical company's stock valued at $6,758,000 after purchasing an additional 374,213 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in KalVista Pharmaceuticals by 4.2% in the fourth quarter. Wellington Management Group LLP now owns 122,863 shares of the specialty pharmaceutical company's stock valued at $1,041,000 after purchasing an additional 4,940 shares during the last quarter.

KalVista Pharmaceuticals Trading Down 4.1%

The business has a 50 day simple moving average of $12.51 and a two-hundred day simple moving average of $11.14. The stock has a market cap of $762.36 million, a price-to-earnings ratio of -4.11 and a beta of -0.04.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The specialty pharmaceutical company reported ($3.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($2.86). During the same period last year, the business earned ($1.07) EPS. Research analysts anticipate that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current fiscal year.

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).