KalVista Pharmaceuticals’ (KALV) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $28.00 price objective on the specialty pharmaceutical company’s stock.

Several other brokerages have also recently commented on KALV. Jones Trading reiterated a “buy” rating and issued a $30.00 target price on shares of KalVista Pharmaceuticals in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a research note on Monday, December 9th. TD Cowen started coverage on shares of KalVista Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $30.00 target price on the stock. Citizens Jmp raised KalVista Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of KalVista Pharmaceuticals in a report on Friday, March 14th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $24.83.

KalVista Pharmaceuticals Stock Down 3.3 %

Shares of NASDAQ KALV opened at $11.93 on Wednesday. KalVista Pharmaceuticals has a 12 month low of $7.30 and a 12 month high of $15.50. The company has a market cap of $593.11 million, a price-to-earnings ratio of -3.28 and a beta of 0.76. The business has a fifty day simple moving average of $10.56 and a 200-day simple moving average of $10.26.

Insider Activity at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 6,669 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $11.97, for a total value of $79,827.93. Following the completion of the sale, the chief executive officer now directly owns 287,811 shares of the company’s stock, valued at $3,445,097.67. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Venrock Healthcare Capital Par purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were acquired at an average price of $9.23 per share, for a total transaction of $923,000.00. Following the acquisition, the insider now directly owns 5,217,285 shares in the company, valued at $48,155,540.55. This represents a 1.95 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 236,055 shares of company stock valued at $2,162,146 and sold 17,292 shares valued at $184,625. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Suvretta Capital Management LLC lifted its position in shares of KalVista Pharmaceuticals by 16.6% in the fourth quarter. Suvretta Capital Management LLC now owns 4,913,012 shares of the specialty pharmaceutical company’s stock worth $41,613,000 after buying an additional 701,007 shares during the last quarter. Tang Capital Management LLC raised 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 acquiring an additional 572,300 shares in the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of 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 acquiring an additional 1,200,000 shares in the last quarter. Vestal Point Capital LP lifted its holdings in KalVista Pharmaceuticals by 19.3% in the 4th quarter. Vestal Point Capital LP now owns 4,770,000 shares of the specialty pharmaceutical company’s stock worth $40,402,000 after purchasing an additional 770,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in KalVista Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 2,255,243 shares of the specialty pharmaceutical company’s stock worth $19,102,000 after purchasing an additional 104,716 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).