KalVista Pharmaceuticals’ (KALV) Buy Rating Reiterated at Needham & Company LLC

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $28.00 price target on the specialty pharmaceutical company’s stock. Needham & Company LLC’s target price indicates a potential upside of 131.94% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Bank of America initiated coverage on shares of KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $22.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a report on Friday, March 14th. Jones Trading restated a “buy” rating and issued a $30.00 target price on shares of KalVista Pharmaceuticals in a research note on Wednesday. JMP Securities assumed coverage on KalVista Pharmaceuticals in a research report on Friday, January 31st. They issued an “outperform” rating and a $19.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.83.

KalVista Pharmaceuticals Trading Down 3.4 %

NASDAQ KALV traded down $0.43 during trading hours on Wednesday, hitting $12.07. 72,153 shares of the company’s stock were exchanged, compared to its average volume of 385,613. The firm has a market cap of $600.17 million, a price-to-earnings ratio of -3.32 and a beta of 0.76. The stock has a 50-day simple moving average of $10.32 and a 200 day simple moving average of $10.23. KalVista Pharmaceuticals has a 1-year low of $7.30 and a 1-year high of $15.50.

Insider Buying and Selling

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 6,669 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was 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 directly owns 287,811 shares of the company’s stock, valued at approximately $3,445,097.67. The trade was a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Venrock Healthcare Capital Par bought 100,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was bought at an average price of $9.23 per share, for a total transaction of $923,000.00. Following the acquisition, the insider now directly owns 5,217,285 shares of the company’s stock, valued at approximately $48,155,540.55. This represents a 1.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 236,055 shares of company stock worth $2,162,146 and have sold 17,292 shares worth $184,625. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of KalVista Pharmaceuticals

Several institutional investors have recently made changes to their positions in KALV. Aquatic Capital Management LLC bought a new position in shares of KalVista Pharmaceuticals during the fourth quarter valued at about $44,000. Tower Research Capital LLC TRC increased its stake in KalVista Pharmaceuticals by 666.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company’s stock valued at $54,000 after buying an additional 5,502 shares during the last quarter. Legal & General Group Plc lifted its position in shares of KalVista Pharmaceuticals by 22.5% during the 4th quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock worth $69,000 after buying an additional 1,494 shares in the last quarter. Martin Worley Group purchased a new position in KalVista Pharmaceuticals in the fourth quarter worth $86,000. Finally, China Universal Asset Management Co. Ltd. grew its position in KalVista Pharmaceuticals by 24.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock valued at $87,000 after buying an additional 2,043 shares during the period.

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).