KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) Given Average Recommendation of “Buy” by Brokerages

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) has received a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.83.

A number of analysts recently weighed in on KALV shares. JMP Securities assumed coverage on shares of KalVista Pharmaceuticals in a report on Friday, January 31st. They issued an “outperform” rating and a $19.00 price target for the company. TD Cowen assumed coverage on KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price for the company. Jones Trading reaffirmed a “buy” rating and set a $30.00 price target on shares of KalVista Pharmaceuticals in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research report on Friday, March 14th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th.

KalVista Pharmaceuticals Stock Down 3.3 %

Shares of NASDAQ:KALV opened at $11.93 on Friday. The firm has a market cap of $593.11 million, a P/E ratio of -3.28 and a beta of 0.76. KalVista Pharmaceuticals has a 12 month low of $7.30 and a 12 month high of $15.50. The company’s 50-day moving average price is $10.56 and its two-hundred day moving average price is $10.26.

Insider Activity at KalVista Pharmaceuticals

In other news, major shareholder Venrock Healthcare Capital Par acquired 100,000 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the insider now owns 5,217,285 shares in the company, valued at $48,155,540.55. This trade represents a 1.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Benjamin L. Palleiko sold 6,669 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $11.97, for a total transaction of $79,827.93. Following the completion of the sale, the chief executive officer now owns 287,811 shares in the company, valued at approximately $3,445,097.67. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, 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 currently owned by corporate insiders.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of hedge funds have recently modified their holdings of KALV. State Street Corp increased its stake in KalVista Pharmaceuticals by 68.1% during the 3rd quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock worth $14,725,000 after purchasing an additional 515,179 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of KalVista Pharmaceuticals in the fourth quarter valued at approximately $634,000. Vestal Point Capital LP increased its position 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 worth $46,320,000 after acquiring an additional 1,700,000 shares in the last quarter. Barclays PLC raised its holdings in shares of KalVista Pharmaceuticals by 418.5% during the third quarter. Barclays PLC now owns 67,222 shares of the specialty pharmaceutical company’s stock worth $778,000 after acquiring an additional 54,257 shares during the period. Finally, Readystate Asset Management LP bought a new stake in KalVista Pharmaceuticals in the 3rd quarter valued at $2,084,000.

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).