Brokerages Set KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) Target Price at $24.83

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) has received a consensus rating of “Buy” from the eight analysts that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.83.

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Jones Trading reissued a “buy” rating and set a $30.00 price objective on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a report on Friday, March 14th.

KalVista Pharmaceuticals Price Performance

NASDAQ:KALV opened at $13.46 on Thursday. KalVista Pharmaceuticals has a one year low of $7.30 and a one year high of $15.50. The stock has a market cap of $669.18 million, a P/E ratio of -3.70 and a beta of -0.01. The company has a fifty day moving average price of $12.26 and a 200 day moving average price of $10.70.

Insiders Place Their Bets

In other news, insider Paul K. Audhya sold 2,776 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.84, for a total value of $32,867.84. Following the sale, the insider now owns 106,611 shares of the company’s stock, valued at $1,262,274.24. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Venrock Healthcare Capital Par acquired 25,000 shares of the business’s stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average cost of $9.42 per share, for a total transaction of $235,500.00. Following the transaction, the insider now owns 5,303,985 shares of the company’s stock, valued at $49,963,538.70. This represents a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 15,899 shares of company stock worth $206,176. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in KalVista Pharmaceuticals by 10.0% in the fourth quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company’s stock valued at $123,000 after buying an additional 1,319 shares during the period. Legal & General Group Plc raised its stake 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 valued at $69,000 after buying an additional 1,494 shares during the period. Rhumbline Advisers raised its stake in KalVista Pharmaceuticals by 3.4% in the first quarter. Rhumbline Advisers now owns 52,918 shares of the specialty pharmaceutical company’s stock valued at $611,000 after buying an additional 1,762 shares during the period. Corebridge Financial Inc. raised its stake 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 buying an additional 2,149 shares during the period. Finally, MetLife Investment Management LLC raised its stake 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 buying an additional 2,536 shares during the period.

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).