KalVista Pharmaceuticals (NASDAQ:KALV) Earns “Buy” Rating from Jones Trading

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “buy” rating reaffirmed by Jones Trading in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $30.00 target price on the specialty pharmaceutical company’s stock. Jones Trading’s price target would suggest a potential upside of 140.00% from the company’s previous close.

Several other equities research analysts have also recently issued reports on KALV. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of KalVista Pharmaceuticals in a research note on Friday, March 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. TD Cowen started coverage on KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price target on the stock. Bank of America started coverage on shares of 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 began coverage on KalVista Pharmaceuticals in a research report on Friday, January 31st. They set an “outperform” rating and a $19.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $24.83.

KalVista Pharmaceuticals Stock Performance

NASDAQ:KALV opened at $12.50 on Wednesday. KalVista Pharmaceuticals has a 52 week low of $7.30 and a 52 week high of $15.50. The firm’s 50-day simple moving average is $10.32 and its 200 day simple moving average is $10.23. The firm has a market cap of $621.45 million, a price-to-earnings ratio of -3.43 and a beta of 0.76.

Insider Activity at KalVista Pharmaceuticals

In related news, insider Paul K. Audhya sold 3,125 shares of KalVista Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total value of $30,687.50. Following the transaction, the insider now directly owns 100,334 shares of the company’s stock, valued at $985,279.88. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Benjamin L. Palleiko sold 5,104 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total value of $50,121.28. Following the completion of the sale, the chief executive officer now owns 278,855 shares in the company, valued at $2,738,356.10. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 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 company insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in shares of KalVista Pharmaceuticals by 10.0% in the 4th quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company’s stock valued at $123,000 after purchasing an additional 1,319 shares during the period. HighVista Strategies LLC boosted its holdings in shares of KalVista Pharmaceuticals by 4.5% during the 3rd quarter. HighVista Strategies LLC now owns 33,305 shares of the specialty pharmaceutical company’s stock worth $386,000 after buying an additional 1,432 shares in the last quarter. Legal & General Group Plc increased its stake in shares of KalVista Pharmaceuticals by 22.5% in the 4th 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 in the last quarter. JPMorgan Chase & Co. lifted its position in shares of KalVista Pharmaceuticals by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,610 shares of the specialty pharmaceutical company’s stock valued at $262,000 after acquiring an additional 1,670 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in KalVista Pharmaceuticals by 24.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock worth $87,000 after purchasing an additional 2,043 shares during the period.

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).