Needham & Company LLC Reiterates Buy Rating for KalVista Pharmaceuticals (NASDAQ:KALV)

Needham & Company LLC reissued their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV - Free Report) in a research note published on Thursday morning,Benzinga reports. They currently have a $28.00 target price on the specialty pharmaceutical company's stock.

A number of other analysts also recently weighed in on the stock. Bank of America started coverage on shares of KalVista Pharmaceuticals in a report on Wednesday, December 18th. They set a "buy" rating and a $22.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of KalVista Pharmaceuticals in a report on Friday, December 6th. TD Cowen started coverage on shares of KalVista Pharmaceuticals in a report on Tuesday, January 7th. They set a "buy" rating and a $30.00 price target for the company. Finally, JMP Securities started coverage on shares of KalVista Pharmaceuticals in a report on Friday, January 31st. They set an "outperform" rating and a $19.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $23.80.

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KalVista Pharmaceuticals Trading Down 0.9 %

NASDAQ KALV traded down $0.11 during trading on Thursday, reaching $12.49. The company's stock had a trading volume of 475,527 shares, compared to its average volume of 381,705. The firm has a market capitalization of $617.23 million, a price-to-earnings ratio of -3.43 and a beta of 0.76. KalVista Pharmaceuticals has a 12 month low of $7.30 and a 12 month high of $15.50. The firm has a 50 day moving average price of $9.75 and a 200 day moving average price of $10.26.

Insider Buying and Selling

In other news, CEO Benjamin L. Palleiko sold 6,669 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $11.97, for a total transaction of $79,827.93. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Venrock Healthcare Capital Par purchased 14,562 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were acquired at an average cost of $9.22 per share, with a total value of $134,261.64. Following the purchase, the insider now directly owns 5,012,796 shares of the company's stock, valued at approximately $46,217,979.12. The trade was a 0.29 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 236,055 shares of company stock worth $2,162,146 and sold 17,292 shares worth $184,625. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several large investors have recently modified their holdings of KALV. Aquatic Capital Management LLC bought a new position in shares of KalVista Pharmaceuticals during the fourth quarter valued at $44,000. Tower Research Capital LLC TRC raised its stake in shares of KalVista Pharmaceuticals by 666.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company's stock valued at $54,000 after acquiring an additional 5,502 shares during the last quarter. Legal & General Group Plc raised its stake 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 valued at $69,000 after acquiring an additional 1,494 shares during the last quarter. Martin Worley Group bought a new position in shares of KalVista Pharmaceuticals during the fourth quarter valued at $86,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of KalVista Pharmaceuticals by 24.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company's stock valued at $87,000 after acquiring an additional 2,043 shares during the last quarter.

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).