KalVista Pharmaceuticals (NASDAQ:KALV) Shares Gap Up - Here's Why

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $10.61, but opened at $11.30. KalVista Pharmaceuticals shares last traded at $11.77, with a volume of 275,288 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $32.00 price target on shares of KalVista Pharmaceuticals in a research report on Friday, September 6th. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of KalVista Pharmaceuticals in a report on Monday, October 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of KalVista Pharmaceuticals in a report on Monday, September 9th.

KalVista Pharmaceuticals Trading Up 9.6 %

The business's fifty day moving average price is $11.60 and its 200 day moving average price is $12.09. The company has a market capitalization of $502.65 million, a P/E ratio of -3.39 and a beta of 0.92.

KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The specialty pharmaceutical company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.04. Equities research analysts anticipate that KalVista Pharmaceuticals, Inc. will post -3.19 EPS for the current year.

Insider Transactions at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 7,352 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $12.19, for a total value of $89,620.88. Following the transaction, the chief executive officer now directly owns 250,800 shares in the company, valued at $3,057,252. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Benjamin L. Palleiko sold 7,352 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $12.19, for a total transaction of $89,620.88. Following the transaction, the chief executive officer now owns 250,800 shares in the company, valued at $3,057,252. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul K. Audhya sold 2,135 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $12.40, for a total transaction of $26,474.00. Following the completion of the sale, the insider now owns 83,745 shares of the company's stock, valued at $1,038,438. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,804 shares of company stock valued at $372,112. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in shares of KalVista Pharmaceuticals by 94.5% during the first quarter. BNP Paribas Financial Markets now owns 18,013 shares of the specialty pharmaceutical company's stock valued at $214,000 after acquiring an additional 8,750 shares during the period. ClariVest Asset Management LLC bought a new stake in shares of KalVista Pharmaceuticals during the first quarter worth approximately $659,000. Susquehanna Fundamental Investments LLC acquired a new position in KalVista Pharmaceuticals in the first quarter valued at approximately $192,000. Entropy Technologies LP bought a new position in KalVista Pharmaceuticals in the first quarter valued at approximately $121,000. Finally, StemPoint Capital LP grew its holdings in KalVista Pharmaceuticals by 174.4% during the 1st quarter. StemPoint Capital LP now owns 1,161,060 shares of the specialty pharmaceutical company's stock worth $13,770,000 after acquiring an additional 737,886 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).