KalVista Pharmaceuticals (NASDAQ:KALV) Shares Up 8.7% – Still a Buy?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)’s stock price rose 8.7% during mid-day trading on Wednesday . The company traded as high as $10.59 and last traded at $10.63. Approximately 241,567 shares changed hands during trading, a decline of 18% from the average daily volume of 295,156 shares. The stock had previously closed at $9.78.

Analyst Ratings Changes

KALV has been the subject of a number of analyst reports. Citizens Jmp upgraded KalVista Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 31st. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a research report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Thursday, December 5th. Bank of America initiated 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. Finally, TD Cowen initiated 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. Six 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.com, KalVista Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $23.80.

KalVista Pharmaceuticals Stock Performance

The firm has a 50 day simple moving average of $8.87 and a two-hundred day simple moving average of $10.41. The stock has a market cap of $495.68 million, a P/E ratio of -2.76 and a beta of 0.85.

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

Insider Transactions at KalVista Pharmaceuticals

In other news, CEO Benjamin L. Palleiko sold 5,104 shares of KalVista Pharmaceuticals stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total transaction of $50,121.28. Following the transaction, the chief executive officer now owns 278,855 shares in the company, valued at approximately $2,738,356.10. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Venrock Healthcare Capital Par bought 100,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was purchased at an average price of $9.23 per share, for a total transaction of $923,000.00. Following the purchase, 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 90 days, insiders have bought 236,055 shares of company stock valued at $2,162,146 and have sold 18,043 shares valued at $176,758. Company insiders own 10.50% of the company’s stock.

Institutional Trading of KalVista Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in KALV. Aquatic Capital Management LLC acquired a new stake in shares of KalVista Pharmaceuticals in the fourth quarter worth about $44,000. Tower Research Capital LLC TRC lifted its position in shares of KalVista Pharmaceuticals by 666.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company’s stock worth $54,000 after purchasing 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 purchasing an additional 1,494 shares during the last quarter. Martin Worley Group acquired a new position in shares of KalVista Pharmaceuticals during the 4th quarter worth about $86,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of KalVista Pharmaceuticals by 24.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock worth $87,000 after purchasing an additional 2,043 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).