KalVista Pharmaceuticals (NASDAQ:KALV) Coverage Initiated by Analysts at Bank of America

Stock analysts at Bank of America initiated coverage on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $22.00 price target on the specialty pharmaceutical company’s stock. Bank of America‘s target price would suggest a potential upside of 171.94% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of KalVista Pharmaceuticals in a research note on Monday, December 9th. 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 reaffirmed a “buy” rating and issued a $20.00 target price on shares of KalVista Pharmaceuticals in a report on Friday, December 6th.

KalVista Pharmaceuticals Stock Down 4.4 %

NASDAQ:KALV opened at $8.09 on Wednesday. KalVista Pharmaceuticals has a 52 week low of $8.07 and a 52 week high of $16.88. The company has a fifty day simple moving average of $10.44 and a two-hundred day simple moving average of $11.66. The company has a market cap of $399.79 million, a price-to-earnings ratio of -2.22 and a beta of 0.85.

Insider Transactions at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 7,627 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $9.75, for a total value of $74,363.25. Following the completion of the transaction, the chief executive officer now owns 274,596 shares in the company, valued at $2,677,311. This represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul K. Audhya sold 8,077 shares of the firm’s 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 transaction, the insider now directly owns 94,199 shares in the company, valued at approximately $872,282.74. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,291 shares of company stock valued at $304,086. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of KalVista Pharmaceuticals

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in KalVista Pharmaceuticals by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 135,600 shares of the specialty pharmaceutical company’s stock valued at $1,597,000 after buying an additional 23,547 shares during the last quarter. nVerses Capital LLC purchased a new stake in KalVista Pharmaceuticals in the 2nd quarter valued at $25,000. Rhumbline Advisers boosted its stake in KalVista Pharmaceuticals by 12.5% during the 2nd quarter. Rhumbline Advisers now owns 53,228 shares of the specialty pharmaceutical company’s stock worth $627,000 after purchasing an additional 5,908 shares during the period. ClariVest Asset Management LLC boosted its stake in KalVista Pharmaceuticals by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 57,096 shares of the specialty pharmaceutical company’s stock worth $673,000 after purchasing an additional 1,535 shares during the period. Finally, Nicholas Investment Partners LP grew its position in KalVista Pharmaceuticals by 0.9% during the 2nd quarter. Nicholas Investment Partners LP now owns 184,358 shares of the specialty pharmaceutical company’s stock worth $2,172,000 after purchasing an additional 1,714 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).