KalVista Pharmaceuticals (NASDAQ:KALV) Shares Down 3% – Time to Sell?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) traded down 3% on Wednesday . The company traded as low as $12.00 and last traded at $12.01. 89,287 shares were traded during trading, a decline of 76% from the average session volume of 379,709 shares. The stock had previously closed at $12.37.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America assumed coverage on KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $22.00 price objective for the company. TD Cowen assumed coverage on KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of KalVista Pharmaceuticals in a research note on Monday, December 9th. Finally, JMP Securities initiated coverage on KalVista Pharmaceuticals in a research note on Friday, January 31st. They issued an “outperform” rating and a $19.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $23.80.

KalVista Pharmaceuticals Stock Performance

The company has a 50 day simple moving average of $10.05 and a 200 day simple moving average of $10.28. The company has a market capitalization of $592.57 million, a PE ratio of -3.27 and a beta of 0.76.

Insiders Place Their Bets

In related news, major shareholder Venrock Healthcare Capital Par bought 100,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were acquired at an average cost of $9.23 per share, for a total transaction of $923,000.00. Following the acquisition, the insider now directly owns 5,217,285 shares in the company, valued at approximately $48,155,540.55. This trade represents a 1.95 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Benjamin L. Palleiko sold 5,104 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total value 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. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 236,055 shares of company stock worth $2,162,146 and sold 17,292 shares worth $184,625. 10.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. boosted its holdings in shares of KalVista Pharmaceuticals by 32.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company’s stock worth $41,400,000 after purchasing an additional 1,200,000 shares during the last quarter. Woodline Partners LP lifted its holdings 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 valued at $10,913,000 after acquiring an additional 680,148 shares during the last quarter. Vestal Point Capital LP lifted its holdings in KalVista Pharmaceuticals by 19.3% in 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 acquiring an additional 770,000 shares during the last quarter. Tang Capital Management LLC lifted its holdings in KalVista Pharmaceuticals by 13.2% in the fourth quarter. Tang Capital Management LLC now owns 4,893,847 shares of the specialty pharmaceutical company’s stock valued at $41,451,000 after acquiring an additional 572,300 shares during the last quarter. Finally, Stempoint Capital LP acquired a new position in KalVista Pharmaceuticals in the fourth quarter valued at approximately $8,409,000.

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).