KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) shares rose 5.5% 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 trading, a decline of 35% from the average daily volume of 548,021 shares. The stock had previously closed at $14.95.
Other analysts also recently issued research reports about the company. Jones Trading reissued a "buy" rating and issued a $30.00 price target on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Leerink Partners boosted their price target on shares of KalVista Pharmaceuticals from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Monday. HC Wainwright raised their price target on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, KalVista Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $26.29.
Read Our Latest Stock Report on KALV
Insider Activity at KalVista Pharmaceuticals
In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 7,169 shares of the firm'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 directly owned 315,074 shares in the company, valued at $4,568,573. This trade 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 the SEC website. Also, insider Paul K. Audhya sold 2,776 shares of the firm's 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 transaction, the insider owned 106,611 shares in the company, valued at approximately $1,262,274.24. This trade represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,899 shares of company stock valued at $206,176. 10.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On KalVista Pharmaceuticals
Several institutional investors and hedge funds have recently added to or reduced their stakes in KALV. AlphaQuest LLC lifted its stake in shares of KalVista Pharmaceuticals by 17.1% in the fourth 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 last quarter. Intech Investment Management LLC raised its holdings in KalVista Pharmaceuticals by 58.5% in the 4th 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 period. Vanguard Group Inc. lifted its position in KalVista Pharmaceuticals by 4.9% during the 4th 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 during the last quarter. Schroder Investment Management Group boosted its holdings in KalVista Pharmaceuticals by 86.8% during 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 acquiring an additional 374,213 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in KalVista Pharmaceuticals by 4.2% during 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 acquiring an additional 4,940 shares during the period.
KalVista Pharmaceuticals Stock Up 7.0%
The company has a 50-day moving average price of $12.51 and a 200-day moving average price of $11.14. The company has a market capitalization of $795.02 million, a price-to-earnings ratio of -4.30 and a beta of -0.04.
About KalVista Pharmaceuticals
(
Get Free Report)
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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