KalVista Pharmaceuticals (NASDAQ:KALV) Shares Gap Up to $10.00

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) shares gapped up prior to trading on Friday . The stock had previously closed at $10.00, but opened at $10.50. KalVista Pharmaceuticals shares last traded at $12.17, with a volume of 1,002,742 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on KALV. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, September 6th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective on shares of KalVista Pharmaceuticals in a report on Friday, September 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a research note on Monday, September 9th.

KalVista Pharmaceuticals Stock Performance

The stock has a 50-day simple moving average of $12.51 and a 200 day simple moving average of $12.11. The stock has a market capitalization of $509.63 million, a P/E ratio of -3.15 and a beta of 0.89.

KalVista Pharmaceuticals (NASDAQ:KALV) last posted its quarterly earnings results on Thursday, September 5th. The specialty pharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.04. Equities analysts predict that KalVista Pharmaceuticals, Inc. will post -3.35 earnings per share for the current year.

Insider Activity

In related news, insider Christopher Yea sold 7,102 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.01, for a total transaction of $85,295.02. Following the completion of the sale, the insider now directly owns 84,467 shares of the company’s stock, valued at $1,014,448.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Christopher Yea sold 7,102 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.01, for a total value of $85,295.02. Following the transaction, the insider now directly owns 84,467 shares in the company, valued at approximately $1,014,448.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Benjamin L. Palleiko sold 14,215 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $170,722.15. Following the completion of the sale, the chief executive officer now owns 242,527 shares of the company’s stock, valued at approximately $2,912,749.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,804 shares of company stock valued at $372,112. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several large investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of KalVista Pharmaceuticals during the second quarter worth $25,000. EntryPoint Capital LLC acquired a new stake in KalVista Pharmaceuticals during the 1st quarter worth $92,000. China Universal Asset Management Co. Ltd. lifted its holdings in KalVista Pharmaceuticals by 101.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,024 shares of the specialty pharmaceutical company’s stock worth $95,000 after acquiring an additional 4,043 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of KalVista Pharmaceuticals in the first quarter worth about $121,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of KalVista Pharmaceuticals during the first quarter worth about $178,000.

About KalVista Pharmaceuticals

KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of small molecule protease inhibitors for diseases with unmet needs in the United States. The company's product portfolio comprises small molecule plasma kallikrein inhibitors targeting hereditary angioedema (HAE) and diabetic macular edema (DME); and oral plasma kallikrein inhibitors.