KalVista Pharmaceuticals (NASDAQ:KALV) Shares Up 5.9% - Time to Buy?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report)'s share price traded up 5.9% during trading on Monday . The stock traded as high as $12.70 and last traded at $12.71. 106,969 shares changed hands during trading, a decline of 73% from the average session volume of 402,392 shares. The stock had previously closed at $12.00.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KALV shares. JMP Securities started coverage on KalVista Pharmaceuticals in a report on Friday, January 31st. They issued an "outperform" rating and a $19.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of KalVista Pharmaceuticals in a report on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of KalVista Pharmaceuticals in a report on Tuesday, April 8th. Jones Trading reissued a "buy" rating and issued a $30.00 price objective on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Finally, TD Cowen initiated coverage on shares of KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They set a "buy" rating and a $30.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $24.83.

KalVista Pharmaceuticals Trading Up 0.9 %

The stock has a 50-day moving average of $11.61 and a two-hundred day moving average of $10.36. The firm has a market cap of $645.81 million, a price-to-earnings ratio of -3.57 and a beta of 0.39.

Insider Buying and Selling

In other news, major shareholder Venrock Healthcare Capital Par bought 14,562 shares of the company's stock in a transaction on Monday, February 3rd. The shares were bought at an average cost of $9.22 per share, with a total value of $134,261.64. Following the transaction, the insider now directly owns 5,012,796 shares in the company, valued at approximately $46,217,979.12. This trade represents a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Benjamin L. Palleiko sold 6,669 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $11.97, for a total transaction of $79,827.93. Following the completion of the sale, the chief executive officer now owns 287,811 shares of the company's stock, valued at $3,445,097.67. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 261,055 shares of company stock valued at $2,397,646 and sold 17,292 shares valued at $184,625. Company insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of KalVista Pharmaceuticals by 418.5% during the third quarter. Barclays PLC now owns 67,222 shares of the specialty pharmaceutical company's stock worth $778,000 after buying an additional 54,257 shares during the last quarter. Geode Capital Management LLC boosted its stake in KalVista Pharmaceuticals by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 830,984 shares of the specialty pharmaceutical company's stock valued at $9,624,000 after buying an additional 24,713 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of KalVista Pharmaceuticals by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,610 shares of the specialty pharmaceutical company's stock worth $262,000 after purchasing an additional 1,670 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in KalVista Pharmaceuticals during the fourth quarter worth about $634,000. Finally, SG Americas Securities LLC increased its holdings in KalVista Pharmaceuticals by 10.0% during the 4th quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company's stock valued at $123,000 after purchasing an additional 1,319 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).