Brokerages Set KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) Price Target at $24.83

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) has been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $24.83.

A number of equities research analysts have weighed in on KALV shares. TD Cowen initiated coverage on KalVista Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price on the stock. Jones Trading reaffirmed a “buy” rating and issued a $30.00 price objective on shares of KalVista Pharmaceuticals in a research note on Wednesday, March 26th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of KalVista Pharmaceuticals in a research note on Tuesday, April 8th. Citizens Jmp raised shares of KalVista Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 31st. Finally, JMP Securities assumed coverage on shares of KalVista Pharmaceuticals in a research note on Friday, January 31st. They issued an “outperform” rating and a $19.00 price objective for the company.

Insider Activity at KalVista Pharmaceuticals

In related news, CEO Benjamin L. Palleiko sold 5,104 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total value of $50,121.28. Following the completion of the sale, the chief executive officer now directly owns 278,855 shares in the company, valued at $2,738,356.10. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Venrock Healthcare Capital Par bought 25,000 shares of the business’s stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of $9.42 per share, for a total transaction of $235,500.00. Following the completion of the acquisition, the insider now directly owns 5,303,985 shares in the company, valued at approximately $49,963,538.70. This trade represents a 0.47 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 261,055 shares of company stock worth $2,397,646 and sold 17,292 shares worth $184,625. 10.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KALV. Hennion & Walsh Asset Management Inc. increased its position in shares of KalVista Pharmaceuticals by 48.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 111,106 shares of the specialty pharmaceutical company’s stock worth $1,282,000 after buying an additional 36,279 shares during the period. Rhumbline Advisers grew its holdings in KalVista Pharmaceuticals by 3.4% during the 1st quarter. Rhumbline Advisers now owns 52,918 shares of the specialty pharmaceutical company’s stock worth $611,000 after acquiring an additional 1,762 shares during the period. GAMMA Investing LLC grew its holdings in KalVista Pharmaceuticals by 567.3% during the 1st quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company’s stock worth $51,000 after acquiring an additional 3,767 shares during the period. Wellington Management Group LLP raised its position in shares of KalVista Pharmaceuticals by 4.2% in the 4th quarter. Wellington Management Group LLP now owns 122,863 shares of the specialty pharmaceutical company’s stock worth $1,041,000 after acquiring an additional 4,940 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its stake in shares of KalVista Pharmaceuticals by 32.5% in the 4th 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.

KalVista Pharmaceuticals Trading Up 2.2 %

NASDAQ KALV opened at $12.00 on Wednesday. The firm’s 50 day simple moving average is $11.32 and its 200 day simple moving average is $10.33. The firm has a market capitalization of $596.59 million, a price-to-earnings ratio of -3.30 and a beta of 0.39. KalVista Pharmaceuticals has a 1 year low of $7.30 and a 1 year high of $15.50.

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).