KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) Given Average Recommendation of "Buy" by Brokerages

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) have earned an average rating of "Buy" from the eight analysts that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $24.83.

KALV has been the subject of several recent research reports. Cantor Fitzgerald restated an "overweight" rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a report on Wednesday. Citizens Jmp upgraded shares of KalVista Pharmaceuticals to a "strong-buy" rating in a report on Friday, January 31st. Jones Trading reiterated a "buy" rating and issued a $30.00 price target on shares of KalVista Pharmaceuticals in a research note on Wednesday. Finally, HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, March 14th.

KalVista Pharmaceuticals Stock Down 3.4 %

Shares of KALV traded down $0.43 on Friday, hitting $12.07. The company's stock had a trading volume of 501,879 shares, compared to its average volume of 387,079. KalVista Pharmaceuticals has a fifty-two week low of $7.30 and a fifty-two week high of $15.50. The firm's fifty day moving average price is $10.32 and its 200-day moving average price is $10.23. The firm has a market capitalization of $600.07 million, a price-to-earnings ratio of -3.32 and a beta of 0.76.

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Insider Buying and Selling

In related news, insider Paul K. Audhya sold 3,125 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total value of $30,687.50. Following the transaction, the insider now directly owns 100,334 shares in the company, valued at approximately $985,279.88. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Venrock Healthcare Capital Par acquired 43,707 shares of the company's stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $8.76 per share, with a total value of $382,873.32. Following the purchase, the insider now directly owns 4,986,480 shares in the company, valued at approximately $43,681,564.80. This represents a 0.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 236,055 shares of company stock valued at $2,162,146 and sold 17,292 shares valued at $184,625. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Suvretta Capital Management LLC increased its stake in KalVista Pharmaceuticals by 16.6% during the 4th quarter. Suvretta Capital Management LLC now owns 4,913,012 shares of the specialty pharmaceutical company's stock worth $41,613,000 after acquiring an additional 701,007 shares during the period. Tang Capital Management LLC grew its holdings in shares of KalVista Pharmaceuticals by 13.2% during the 4th 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 in the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of 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 period. Vestal Point Capital LP raised its stake 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 valued at $40,402,000 after purchasing an additional 770,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in KalVista Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 2,255,243 shares of the specialty pharmaceutical company's stock worth $19,102,000 after purchasing an additional 104,716 shares during the period.

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).