KalVista Pharmaceuticals' (KALV) Buy Rating Reiterated at Needham & Company LLC

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $28.00 target price on the specialty pharmaceutical company's stock. Needham & Company LLC's price target would indicate a potential upside of 143.69% from the company's previous close.

Other analysts have also issued research reports about the stock. Citizens Jmp upgraded shares of KalVista Pharmaceuticals to a "strong-buy" rating in a research report on Friday, January 31st. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of KalVista Pharmaceuticals in a report on Friday, March 14th. Cantor Fitzgerald reissued an "overweight" rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Bank of America assumed coverage on KalVista Pharmaceuticals in a research report on Wednesday, December 18th. They set a "buy" rating and a $22.00 price objective for the company. Finally, JMP Securities started coverage on KalVista Pharmaceuticals in a research report on Friday, January 31st. They issued an "outperform" rating and a $19.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $24.83.

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KalVista Pharmaceuticals Price Performance

KALV traded up $0.95 on Tuesday, hitting $11.49. 683,343 shares of the stock were exchanged, compared to its average volume of 400,900. The firm has a market capitalization of $571.24 million, a price-to-earnings ratio of -3.16 and a beta of 0.39. KalVista Pharmaceuticals has a 12 month low of $7.30 and a 12 month high of $15.50. The business has a 50-day moving average of $11.07 and a two-hundred day moving average of $10.30.

Insider Buying and Selling at KalVista Pharmaceuticals

In related news, major shareholder Venrock Healthcare Capital Par bought 43,707 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average cost of $8.76 per share, with a total value of $382,873.32. Following the transaction, the insider now directly owns 4,986,480 shares in the company, valued at approximately $43,681,564.80. This trade represents a 0.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Benjamin L. Palleiko sold 6,669 shares of KalVista Pharmaceuticals stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $11.97, for a total value of $79,827.93. Following the transaction, the chief executive officer now directly owns 287,811 shares in the company, valued at $3,445,097.67. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 261,055 shares of company stock worth $2,397,646 and sold 17,292 shares worth $184,625. Corporate insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Suvretta Capital Management LLC increased its position 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 valued at $41,613,000 after purchasing an additional 701,007 shares during the period. Tang Capital Management LLC boosted its stake in shares of KalVista Pharmaceuticals by 13.2% in the 4th quarter. Tang Capital Management LLC now owns 4,893,847 shares of the specialty pharmaceutical company's stock valued at $41,451,000 after purchasing an additional 572,300 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of KalVista Pharmaceuticals by 32.5% during 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 buying an additional 1,200,000 shares during the period. Vestal Point Capital LP raised its stake in KalVista Pharmaceuticals by 19.3% during 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 buying an additional 770,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in KalVista Pharmaceuticals by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 2,255,243 shares of the specialty pharmaceutical company's stock valued at $19,102,000 after buying an additional 104,716 shares during the period.

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).