KalVista Pharmaceuticals’ (KALV) Buy Rating Reaffirmed at Jones Trading

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “buy” rating reiterated by analysts at Jones Trading in a report issued on Wednesday,Benzinga reports. They presently have a $30.00 price target on the specialty pharmaceutical company’s stock. Jones Trading’s target price suggests a potential upside of 143.11% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, March 14th. Cantor Fitzgerald restated an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Thursday, March 13th. TD Cowen began coverage on shares of KalVista Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Bank of America assumed coverage on shares of KalVista Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $22.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.83.

KalVista Pharmaceuticals Trading Up 2.2 %

Shares of KALV stock opened at $12.34 on Wednesday. KalVista Pharmaceuticals has a 12 month low of $7.30 and a 12 month high of $15.50. The stock has a market cap of $613.50 million, a P/E ratio of -3.39 and a beta of 0.76. The company has a 50 day simple moving average of $10.49 and a two-hundred day simple moving average of $10.26.

Insider Activity at KalVista Pharmaceuticals

In related news, major shareholder Venrock Healthcare Capital Par bought 43,707 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $8.76 per share, with a total value of $382,873.32. Following the completion of the purchase, the insider now owns 4,986,480 shares of the company’s stock, valued at approximately $43,681,564.80. The trade was a 0.88 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Benjamin L. Palleiko sold 5,104 shares of KalVista Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total transaction of $50,121.28. Following the completion of the sale, the chief executive officer now owns 278,855 shares in the company, valued at approximately $2,738,356.10. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 236,055 shares of company stock valued at $2,162,146 and have sold 17,292 shares valued at $184,625. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in KalVista Pharmaceuticals by 4.2% in the fourth quarter. Wellington Management Group LLP now owns 122,863 shares of the specialty pharmaceutical company’s stock worth $1,041,000 after purchasing an additional 4,940 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in shares of KalVista Pharmaceuticals by 32.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company’s stock valued at $41,400,000 after acquiring an additional 1,200,000 shares during the last quarter. Woodline Partners LP grew its position in KalVista Pharmaceuticals by 111.8% in the fourth quarter. Woodline Partners LP now owns 1,288,401 shares of the specialty pharmaceutical company’s stock worth $10,913,000 after acquiring an additional 680,148 shares in the last quarter. Vestal Point Capital LP raised its position in KalVista Pharmaceuticals by 19.3% during the fourth quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company’s stock valued at $40,402,000 after purchasing an additional 770,000 shares during the period. Finally, Tang Capital Management LLC lifted its stake in shares of KalVista Pharmaceuticals by 13.2% in the 4th quarter. Tang Capital Management LLC now owns 4,893,847 shares of the specialty pharmaceutical company’s stock valued at $41,451,000 after purchasing an additional 572,300 shares during the last quarter.

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).