KalVista Pharmaceuticals (NASDAQ:KALV) Shares Cross Above 50-Day Moving Average – Time to Sell?

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $8.87 and traded as high as $8.93. KalVista Pharmaceuticals shares last traded at $8.77, with a volume of 212,998 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KALV. Cantor Fitzgerald reissued an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th. Bank of America began coverage on KalVista Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $22.00 price objective for the company. TD Cowen began coverage on KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Thursday, December 5th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $25.00.

KalVista Pharmaceuticals Stock Performance

The firm has a 50-day moving average price of $8.87 and a 200-day moving average price of $10.96. The stock has a market cap of $433.40 million, a PE ratio of -2.41 and a beta of 0.86.

KalVista Pharmaceuticals (NASDAQ:KALV) last posted its quarterly earnings results on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.01. As a group, sell-side analysts anticipate that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul K. Audhya sold 8,077 shares of KalVista Pharmaceuticals stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $9.26, for a total value of $74,793.02. Following the completion of the sale, the insider now directly owns 94,199 shares in the company, valued at approximately $872,282.74. This trade represents a 7.90 % decrease in their position. 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 14,400 shares of KalVista Pharmaceuticals stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $9.26, for a total value of $133,344.00. Following the completion of the sale, the chief executive officer now owns 266,598 shares of the company’s stock, valued at $2,468,697.48. The trade was a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,291 shares of company stock worth $304,086. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of large investors have recently made changes to their positions in KALV. Vestal Point Capital LP grew its stake in shares of KalVista Pharmaceuticals by 73.9% during the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock valued at $46,320,000 after purchasing an additional 1,700,000 shares during the period. State Street Corp grew its stake in shares of KalVista Pharmaceuticals by 68.1% during the 3rd quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock valued at $14,725,000 after purchasing an additional 515,179 shares during the period. Emerald Advisers LLC grew its stake in shares of KalVista Pharmaceuticals by 29.8% during the 3rd quarter. Emerald Advisers LLC now owns 835,988 shares of the specialty pharmaceutical company’s stock valued at $9,681,000 after purchasing an additional 192,091 shares during the period. Readystate Asset Management LP bought a new stake in shares of KalVista Pharmaceuticals during the 3rd quarter valued at about $2,084,000. Finally, Emerald Mutual Fund Advisers Trust grew its stake in shares of KalVista Pharmaceuticals by 23.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 650,980 shares of the specialty pharmaceutical company’s stock valued at $7,538,000 after purchasing an additional 121,615 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).