KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Up 8.3% – Here’s What Happened

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) rose 8.3% during trading on Monday . The company traded as high as $11.74 and last traded at $11.60. Approximately 531,267 shares traded hands during mid-day trading, an increase of 35% from the average daily volume of 392,121 shares. The stock had previously closed at $10.71.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KALV shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a research report on Wednesday, March 26th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a report on Friday, March 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. TD Cowen initiated coverage on KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price target for the company. Finally, Jones Trading reaffirmed a “buy” rating and set a $30.00 price target on shares of KalVista Pharmaceuticals in a research report on Wednesday, March 26th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $24.83.

KalVista Pharmaceuticals Trading Up 7.4 %

The firm has a market capitalization of $571.73 million, a price-to-earnings ratio of -3.16 and a beta of 0.39. The company’s 50 day moving average is $10.87 and its 200-day moving average is $10.27.

Insider Activity

In related news, 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 transaction, the insider now owns 100,334 shares in the company, valued at approximately $985,279.88. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Venrock Healthcare Capital Par acquired 100,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were bought at an average price of $9.23 per share, with a total value of $923,000.00. Following the completion of the transaction, the insider now directly owns 5,217,285 shares of the company’s stock, valued at approximately $48,155,540.55. The trade was a 1.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 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.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC acquired a new position in KalVista Pharmaceuticals in the 4th quarter valued at $44,000. GAMMA Investing LLC grew its stake in shares of KalVista Pharmaceuticals by 567.3% in the first quarter. GAMMA Investing LLC now owns 4,431 shares of the specialty pharmaceutical company’s stock valued at $51,000 after acquiring an additional 3,767 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of KalVista Pharmaceuticals by 666.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company’s stock valued at $54,000 after acquiring an additional 5,502 shares in the last quarter. Legal & General Group Plc increased its position in KalVista Pharmaceuticals by 22.5% during the fourth quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock worth $69,000 after acquiring an additional 1,494 shares during the period. Finally, Martin Worley Group acquired a new stake in KalVista Pharmaceuticals in the 4th quarter worth about $86,000.

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).