KalVista Pharmaceuticals (NASDAQ:KALV) Receives Buy Rating from Needham & Company LLC

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

KALV has been the topic of a number of other research reports. Citizens Jmp upgraded KalVista Pharmaceuticals to a "strong-buy" rating in a research note on Friday, January 31st. JMP Securities began coverage on shares of KalVista Pharmaceuticals in a research note on Friday, January 31st. They set an "outperform" rating and a $19.00 target price for the company. Bank of America began coverage on shares of KalVista Pharmaceuticals in a report on Wednesday, December 18th. They issued a "buy" rating and a $22.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Finally, HC Wainwright reissued a "buy" rating and set a $20.00 price target on shares of KalVista Pharmaceuticals in a report on Friday, March 14th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, KalVista Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $24.83.

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KalVista Pharmaceuticals Trading Down 3.3 %

Shares of KALV traded down $0.41 during midday trading on Wednesday, reaching $11.93. The stock had a trading volume of 275,700 shares, compared to its average volume of 386,462. The firm has a 50 day simple moving average of $10.56 and a 200-day simple moving average of $10.25. The firm has a market cap of $593.11 million, a PE ratio of -3.28 and a beta of 0.76. KalVista Pharmaceuticals has a one year low of $7.30 and a one year high of $15.50.

Insider Buying and Selling

In other KalVista Pharmaceuticals news, major shareholder Venrock Healthcare Capital Par bought 14,562 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $9.22 per share, for a total transaction of $134,261.64. Following the completion of the transaction, the insider now directly owns 5,012,796 shares in the company, valued at approximately $46,217,979.12. The trade was a 0.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Benjamin L. Palleiko sold 5,104 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total transaction of $50,121.28. Following the completion of the transaction, the chief executive officer now directly owns 278,855 shares of the company's stock, valued at $2,738,356.10. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 236,055 shares of company stock worth $2,162,146 and have sold 17,292 shares worth $184,625. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of KalVista Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of KALV. Vestal Point Capital LP grew its position in KalVista Pharmaceuticals by 73.9% during the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company's stock worth $46,320,000 after acquiring an additional 1,700,000 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in shares of KalVista Pharmaceuticals during the fourth quarter valued at about $13,467,000. Octagon Capital Advisors LP bought a new stake in shares of KalVista Pharmaceuticals during the fourth quarter worth about $11,604,000. Frazier Life Sciences Management L.P. raised its holdings in KalVista Pharmaceuticals by 32.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company's stock valued at $41,400,000 after buying an additional 1,200,000 shares during the last quarter. Finally, Stempoint Capital LP acquired a new stake in KalVista Pharmaceuticals during the 4th quarter worth approximately $8,409,000.

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).