KalVista Pharmaceuticals (NASDAQ:KALV) Trading 5.9% Higher – Here’s Why

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) shot up 5.9% during mid-day trading on Monday . The company traded as high as $12.70 and last traded at $12.71. 106,969 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 402,392 shares. The stock had previously closed at $12.00.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JMP Securities started 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. 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 target for the company. Citizens Jmp raised KalVista Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 31st. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of KalVista Pharmaceuticals in a research report on Friday, March 14th. Finally, Jones Trading restated a “buy” rating and issued a $30.00 target price on shares of KalVista Pharmaceuticals in a report on Wednesday, March 26th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $24.83.

KalVista Pharmaceuticals Stock Up 2.4 %

The firm has a market cap of $611.01 million, a PE ratio of -3.38 and a beta of 0.39. The business has a 50 day simple moving average of $11.32 and a two-hundred day simple moving average of $10.31.

Insider Activity at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, major shareholder Venrock Healthcare Capital Par bought 14,562 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were bought at an average cost of $9.22 per share, for a total transaction of $134,261.64. Following the acquisition, the insider now directly owns 5,012,796 shares in the company, valued at approximately $46,217,979.12. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul K. Audhya sold 3,125 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total transaction of $30,687.50. Following the completion of the sale, the insider now owns 100,334 shares of the company’s stock, valued at approximately $985,279.88. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 261,055 shares of company stock worth $2,397,646 and sold 17,292 shares worth $184,625. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in KALV. SG Americas Securities LLC grew its position in shares of KalVista Pharmaceuticals by 10.0% in the 4th quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company’s stock worth $123,000 after buying an additional 1,319 shares during the last quarter. Legal & General Group Plc increased its position in shares of KalVista Pharmaceuticals by 22.5% during the fourth quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock worth $69,000 after purchasing an additional 1,494 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of KalVista Pharmaceuticals by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,610 shares of the specialty pharmaceutical company’s stock valued at $262,000 after purchasing an additional 1,670 shares during the last quarter. Rhumbline Advisers raised its stake in KalVista Pharmaceuticals by 3.4% in the first quarter. Rhumbline Advisers now owns 52,918 shares of the specialty pharmaceutical company’s stock valued at $611,000 after buying an additional 1,762 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in KalVista Pharmaceuticals by 24.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock worth $87,000 after acquiring an additional 2,043 shares in the last quarter.

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).