KalVista Pharmaceuticals (NASDAQ:KALV) Reaches New 1-Year High – Here’s Why

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.30 and last traded at $16.9450, with a volume of 357442 shares trading hands. The stock had previously closed at $16.91.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen upgraded KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. JMP Securities lifted their price objective on shares of KalVista Pharmaceuticals from $27.00 to $28.00 and gave the stock a “market outperform” rating in a research report on Friday, September 12th. Cowen reiterated a “buy” rating on shares of KalVista Pharmaceuticals in a report on Wednesday, December 3rd. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a research note on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.63.

KalVista Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 8.18, a quick ratio of 7.21 and a current ratio of 7.22. The company has a market cap of $854.30 million, a P/E ratio of -4.29 and a beta of -0.14. The stock’s fifty day moving average price is $12.77 and its two-hundred day moving average price is $13.21.

KalVista Pharmaceuticals (NASDAQ:KALV) last announced its quarterly earnings data on Monday, November 10th. The specialty pharmaceutical company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.04. The business had revenue of $13.69 million for the quarter, compared to the consensus estimate of $6.03 million. As a group, equities analysts predict that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current year.

Insider Transactions at KalVista Pharmaceuticals

In other news, CFO Brian Piekos sold 4,471 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $13.45, for a total value of $60,134.95. Following the completion of the transaction, the chief financial officer directly owned 10,529 shares in the company, valued at approximately $141,615.05. This represents a 29.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul K. Audhya sold 5,296 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $13.45, for a total value of $71,231.20. Following the completion of the transaction, the insider owned 131,831 shares of the company’s stock, valued at $1,773,126.95. This represents a 3.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 31,329 shares of company stock worth $437,371. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in KalVista Pharmaceuticals by 154.5% in the first quarter. Invesco Ltd. now owns 39,804 shares of the specialty pharmaceutical company’s stock valued at $459,000 after acquiring an additional 24,164 shares during the last quarter. Emerald Advisers LLC boosted its stake in shares of KalVista Pharmaceuticals by 15.6% in the 2nd quarter. Emerald Advisers LLC now owns 1,038,049 shares of the specialty pharmaceutical company’s stock valued at $11,735,000 after purchasing an additional 139,859 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of KalVista Pharmaceuticals by 26.4% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 768,972 shares of the specialty pharmaceutical company’s stock worth $8,693,000 after buying an additional 160,759 shares during the period. Woodline Partners LP lifted its holdings in KalVista Pharmaceuticals by 25.5% in the first quarter. Woodline Partners LP now owns 1,617,469 shares of the specialty pharmaceutical company’s stock valued at $18,666,000 after buying an additional 329,068 shares during the period. Finally, Wellington Management Group LLP boosted its position in KalVista Pharmaceuticals by 2.8% during the first quarter. Wellington Management Group LLP now owns 126,268 shares of the specialty pharmaceutical company’s stock valued at $1,457,000 after acquiring an additional 3,405 shares during the last quarter.

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).