Brokerages Set KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) PT at $23.80

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) have been assigned an average rating of “Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $23.80.

KALV has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, December 6th. TD Cowen initiated coverage on shares of KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a research note on Thursday, December 5th. JMP Securities initiated coverage on shares of KalVista Pharmaceuticals in a research note on Friday, January 31st. They issued an “outperform” rating and a $19.00 price target for the company. Finally, Citizens Jmp raised shares of KalVista Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 31st.

KalVista Pharmaceuticals Trading Down 4.6 %

Shares of NASDAQ:KALV opened at $10.87 on Tuesday. The company has a market cap of $537.17 million, a price-to-earnings ratio of -2.99 and a beta of 0.85. The company has a 50-day moving average price of $9.10 and a 200-day moving average price of $10.31. KalVista Pharmaceuticals has a 12 month low of $7.30 and a 12 month high of $15.50.

KalVista Pharmaceuticals (NASDAQ:KALV) last issued its quarterly earnings data on Thursday, December 5th. The specialty pharmaceutical company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.01. As a group, research analysts forecast that KalVista Pharmaceuticals will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling at KalVista Pharmaceuticals

In related news, CEO Benjamin L. Palleiko sold 7,627 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $9.75, for a total value of $74,363.25. Following the sale, the chief executive officer now owns 274,596 shares in the company, valued at approximately $2,677,311. This trade represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Venrock Healthcare Capital Par bought 43,707 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $8.76 per share, for a total transaction of $382,873.32. Following the acquisition, the insider now directly owns 4,986,480 shares of the company’s stock, valued at $43,681,564.80. The trade was a 0.88 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 236,055 shares of company stock valued at $2,162,146 and sold 18,250 shares valued at $179,160. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC boosted its holdings in KalVista Pharmaceuticals by 16.6% in the fourth quarter. Suvretta Capital Management LLC now owns 4,913,012 shares of the specialty pharmaceutical company’s stock worth $41,613,000 after purchasing an additional 701,007 shares during the last quarter. Tang Capital Management LLC boosted its holdings in KalVista Pharmaceuticals by 13.2% in the fourth quarter. Tang Capital Management LLC now owns 4,893,847 shares of the specialty pharmaceutical company’s stock worth $41,451,000 after purchasing an additional 572,300 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in KalVista Pharmaceuticals by 32.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company’s stock worth $41,400,000 after purchasing an additional 1,200,000 shares during the last quarter. Vestal Point Capital LP boosted its holdings in KalVista Pharmaceuticals by 19.3% in the fourth quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company’s stock worth $40,402,000 after purchasing an additional 770,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of KalVista Pharmaceuticals by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 2,255,243 shares of the specialty pharmaceutical company’s stock worth $19,102,000 after acquiring an additional 104,716 shares during 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).