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

Needham & Company LLC reiterated their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $28.00 target price on the specialty pharmaceutical company’s stock.

Several other equities research analysts have also issued reports on the company. Jones Trading reaffirmed a “buy” rating and set a $30.00 target price on shares of KalVista Pharmaceuticals in a research report on Wednesday. Citizens Jmp upgraded shares of KalVista Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 31st. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of KalVista Pharmaceuticals in a research note on Friday, March 14th. JMP Securities began coverage on KalVista Pharmaceuticals in a research note on Friday, January 31st. They issued an “outperform” rating and a $19.00 price objective on the stock. Finally, TD Cowen assumed coverage on KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price for the company. Seven 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.com, the stock has a consensus rating of “Buy” and an average price target of $24.83.

KalVista Pharmaceuticals Stock Down 3.4 %

KALV stock opened at $12.07 on Wednesday. The business has a 50 day moving average of $10.41 and a 200-day moving average of $10.24. The firm has a market cap of $600.07 million, a PE ratio of -3.32 and a beta of 0.76. KalVista Pharmaceuticals has a 12-month low of $7.30 and a 12-month high of $15.50.

Insider Transactions at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 6,669 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 287,811 shares in the company, valued at $3,445,097.67. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul K. Audhya sold 3,125 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total value of $30,687.50. Following the sale, the insider now owns 100,334 shares in the company, valued at approximately $985,279.88. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 236,055 shares of company stock valued at $2,162,146 and sold 17,292 shares valued at $184,625. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in KalVista Pharmaceuticals by 4.2% during the fourth quarter. Wellington Management Group LLP now owns 122,863 shares of the specialty pharmaceutical company’s stock worth $1,041,000 after buying an additional 4,940 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of KalVista Pharmaceuticals by 32.5% during 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 during the last quarter. Woodline Partners LP grew its holdings in shares of KalVista Pharmaceuticals by 111.8% during the fourth quarter. Woodline Partners LP now owns 1,288,401 shares of the specialty pharmaceutical company’s stock worth $10,913,000 after purchasing an additional 680,148 shares in the last quarter. Vestal Point Capital LP increased its position in shares of KalVista Pharmaceuticals by 19.3% in 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 purchasing an additional 770,000 shares during the last quarter. Finally, Tang Capital Management LLC raised its stake in KalVista Pharmaceuticals by 13.2% in the fourth 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 in the last quarter.

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).