KalVista Pharmaceuticals (NASDAQ:KALV) Receives “Buy” Rating from Jones Trading

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “buy” rating reaffirmed by analysts at Jones Trading in a note issued to investors on Wednesday,Benzinga reports. They currently have a $30.00 price objective on the specialty pharmaceutical company’s stock. Jones Trading’s target price suggests a potential upside of 140.00% from the company’s previous close.

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

KalVista Pharmaceuticals Stock Up 2.0 %

Shares of NASDAQ:KALV opened at $12.50 on Wednesday. The business’s 50 day moving average is $10.32 and its 200 day moving average is $10.23. 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 $621.45 million, a price-to-earnings ratio of -3.43 and a beta of 0.76.

Insider Buying and Selling

In other KalVista Pharmaceuticals news, major shareholder Venrock Healthcare Capital Par acquired 43,707 shares of the stock in a transaction dated Thursday, January 30th. The stock was purchased at an average cost of $8.76 per share, for a total transaction of $382,873.32. Following the acquisition, the insider now owns 4,986,480 shares in the company, valued at $43,681,564.80. The trade was a 0.88 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Benjamin L. Palleiko sold 5,104 shares of the 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 transaction, the chief executive officer now directly owns 278,855 shares in the company, valued at approximately $2,738,356.10. This represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 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 Investors Weigh In On KalVista Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of KALV. Vestal Point Capital LP raised its stake in shares of KalVista Pharmaceuticals by 73.9% during the third quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock valued at $46,320,000 after acquiring an additional 1,700,000 shares during the last quarter. Boxer Capital Management LLC bought a new position in KalVista Pharmaceuticals during the 4th quarter valued at approximately $13,467,000. Octagon Capital Advisors LP bought a new stake in shares of KalVista Pharmaceuticals in the 4th quarter worth approximately $11,604,000. Frazier Life Sciences Management L.P. increased its stake in shares of KalVista Pharmaceuticals by 32.5% during the fourth 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 buying an additional 1,200,000 shares during the period. Finally, Stempoint Capital LP bought a new position in shares of KalVista Pharmaceuticals during 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).