KalVista Pharmaceuticals (NASDAQ:KALV) Shares Gap Up Following Analyst Upgrade

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) gapped up prior to trading on Monday after JMP Securities raised their price target on the stock from $19.00 to $27.00. The stock had previously closed at $11.98, but opened at $14.02. JMP Securities currently has a market outperform rating on the stock. KalVista Pharmaceuticals shares last traded at $14.02, with a volume of 3,560,127 shares changing hands.

KALV has been the subject of a number of other reports. Leerink Partners upped 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 upped their price target on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Jones Trading reaffirmed a “buy” rating and set a $30.00 price objective on shares of KalVista Pharmaceuticals in a research note on Wednesday, March 26th. Eight 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, the stock has an average rating of “Buy” and an average price target of $26.29.

Insider Transactions at KalVista Pharmaceuticals

In other news, CEO Benjamin L. Palleiko sold 7,169 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $14.50, for a total value of $103,950.50. Following the transaction, the chief executive officer owned 315,074 shares in the company, valued at $4,568,573. This represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul K. Audhya sold 2,776 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.84, for a total value of $32,867.84. Following the completion of the transaction, the insider owned 106,611 shares in the company, valued at $1,262,274.24. This represents a 2.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,899 shares of company stock worth $206,176 in the last quarter. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Aquatic Capital Management LLC bought a new position in shares of KalVista Pharmaceuticals during the fourth quarter valued at $44,000. Earned Wealth Advisors LLC acquired a new position in shares of KalVista Pharmaceuticals in the 1st quarter valued at approximately $44,000. GAMMA Investing LLC boosted its position in KalVista Pharmaceuticals by 567.3% during the 1st quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company’s stock worth $51,000 after acquiring an additional 3,767 shares during the last quarter. CWM LLC raised its stake in shares of KalVista Pharmaceuticals by 12,636.1% during the 1st quarter. CWM LLC now owns 4,585 shares of the specialty pharmaceutical company’s stock worth $53,000 after purchasing an additional 4,549 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of KalVista Pharmaceuticals by 666.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company’s stock worth $54,000 after purchasing an additional 5,502 shares in the last quarter.

KalVista Pharmaceuticals Trading Down 0.7%

The business has a 50 day moving average of $12.47 and a two-hundred day moving average of $11.11. The firm has a market cap of $743.31 million, a P/E ratio of -4.02 and a beta of -0.04.

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).