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

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) shares gapped down before the market opened on Monday . The stock had previously closed at $12.96, but opened at $12.42. KalVista Pharmaceuticals shares last traded at $12.57, with a volume of 347,109 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Tuesday, April 8th. Jones Trading restated a “buy” rating and issued a $30.00 price target on shares of KalVista Pharmaceuticals in a research report on Wednesday, March 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, March 14th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.83.

KalVista Pharmaceuticals Price Performance

The firm has a market cap of $604.10 million, a price-to-earnings ratio of -3.27 and a beta of -0.01. The firm’s fifty day moving average is $12.43 and its 200-day moving average is $10.78.

Insider Activity at KalVista Pharmaceuticals

In related news, major shareholder Venrock Healthcare Capital Par acquired 25,000 shares of the company’s stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average price of $9.42 per share, for a total transaction of $235,500.00. Following the completion of the acquisition, the insider now owns 5,303,985 shares of the company’s stock, valued at approximately $49,963,538.70. This trade represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Benjamin L. Palleiko sold 7,169 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $14.50, for a total transaction of $103,950.50. Following the transaction, the chief executive officer now owns 315,074 shares in the company, valued at $4,568,573. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,899 shares of company stock worth $206,176 over the last quarter. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Suvretta Capital Management LLC raised its holdings in shares of KalVista Pharmaceuticals by 16.6% during the fourth quarter. Suvretta Capital Management LLC now owns 4,913,012 shares of the specialty pharmaceutical company’s stock valued at $41,613,000 after purchasing an additional 701,007 shares during the period. Tang Capital Management LLC raised its holdings in shares of KalVista Pharmaceuticals by 13.2% during 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 purchasing an additional 572,300 shares during the period. Frazier Life Sciences Management L.P. raised its holdings 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 purchasing an additional 1,200,000 shares during the period. Vestal Point Capital LP raised its holdings in shares of KalVista Pharmaceuticals by 19.3% during 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 purchasing an additional 770,000 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of KalVista Pharmaceuticals by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,298,598 shares of the specialty pharmaceutical company’s stock valued at $26,526,000 after purchasing an additional 43,355 shares during the period.

KalVista Pharmaceuticals Company Profile

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).