KalVista Pharmaceuticals' (KALV) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV - Free Report) in a report published on Friday,Benzinga reports. The firm currently has a $20.00 price target on the specialty pharmaceutical company's stock.

Several other equities analysts have also commented on KALV. JMP Securities began coverage on KalVista Pharmaceuticals in a report on Friday, January 31st. They issued an "outperform" rating and a $19.00 target price on the stock. Cantor Fitzgerald reissued 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 target price on shares of KalVista Pharmaceuticals in a report on Thursday, March 13th. Citizens Jmp raised KalVista Pharmaceuticals to a "strong-buy" rating in a report on Friday, January 31st. Finally, TD Cowen started coverage on KalVista Pharmaceuticals in a report on Tuesday, January 7th. They set a "buy" rating and a $30.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $23.80.

KalVista Pharmaceuticals Stock Down 1.0 %

NASDAQ:KALV traded down $0.12 during trading hours on Friday, reaching $12.37. 344,637 shares of the stock were exchanged, compared to its average volume of 381,549. The business has a 50-day moving average of $9.82 and a two-hundred day moving average of $10.26. KalVista Pharmaceuticals has a twelve month low of $7.30 and a twelve month high of $15.50. The company has a market capitalization of $614.99 million, a price-to-earnings ratio of -3.40 and a beta of 0.76.

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Insider Buying and Selling

In related news, major shareholder Venrock Healthcare Capital Par purchased 14,562 shares of KalVista Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $9.22 per share, for a total transaction of $134,261.64. Following the transaction, the insider now 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 is available through this link. Also, CEO Benjamin L. Palleiko sold 6,669 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $11.97, for a total transaction of $79,827.93. Following the transaction, the chief executive officer now directly owns 287,811 shares of the company's stock, valued at approximately $3,445,097.67. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 236,055 shares of company stock valued at $2,162,146 and have sold 17,292 shares valued at $184,625. Corporate insiders own 10.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vestal Point Capital LP raised its holdings in KalVista Pharmaceuticals by 73.9% in the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company's stock valued at $46,320,000 after acquiring an additional 1,700,000 shares during the last quarter. Boxer Capital Management LLC acquired a new position in KalVista Pharmaceuticals in the 4th quarter valued at $13,467,000. Octagon Capital Advisors LP acquired a new position in KalVista Pharmaceuticals in the 4th quarter valued at $11,604,000. Frazier Life Sciences Management L.P. increased its holdings in shares of KalVista Pharmaceuticals by 32.5% during the 4th 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 buying an additional 1,200,000 shares during the last quarter. Finally, Stempoint Capital LP acquired a new stake in shares of KalVista Pharmaceuticals during the 4th quarter worth $8,409,000.

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).