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

Jones Trading reissued their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a report issued on Wednesday,Benzinga reports. Jones Trading currently has a $30.00 target price on the specialty pharmaceutical company’s stock.

KALV has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. JMP Securities assumed coverage on KalVista Pharmaceuticals in a research note on Friday, January 31st. They issued an “outperform” rating and a $19.00 target price for the company. Citizens Jmp raised KalVista Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 31st. Bank of America assumed coverage on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 18th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research note on Thursday, March 13th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $24.83.

KalVista Pharmaceuticals Stock Down 3.3 %

KalVista Pharmaceuticals stock opened at $11.93 on Wednesday. The firm has a fifty day moving average of $10.56 and a 200-day moving average of $10.26. KalVista Pharmaceuticals has a 52-week low of $7.30 and a 52-week high of $15.50. The firm has a market capitalization of $593.11 million, a P/E ratio of -3.28 and a beta of 0.76.

Insider Buying and Selling at KalVista Pharmaceuticals

In related news, major shareholder Venrock Healthcare Capital Par bought 14,562 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were acquired at an average price of $9.22 per share, for a total transaction of $134,261.64. Following the purchase, the insider now owns 5,012,796 shares in the company, valued at $46,217,979.12. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul K. Audhya sold 3,125 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total transaction of $30,687.50. Following the transaction, the insider now directly owns 100,334 shares in the company, valued at $985,279.88. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 insiders.

Institutional Trading of KalVista Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of KalVista Pharmaceuticals in the 3rd quarter worth approximately $175,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in KalVista Pharmaceuticals by 114.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,949 shares of the specialty pharmaceutical company’s stock worth $266,000 after purchasing an additional 12,245 shares during the period. Intech Investment Management LLC bought a new stake in KalVista Pharmaceuticals during the third quarter valued at $126,000. Citigroup Inc. increased its stake in KalVista Pharmaceuticals by 6.8% during the third quarter. Citigroup Inc. now owns 305,504 shares of the specialty pharmaceutical company’s stock valued at $3,538,000 after purchasing an additional 19,440 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of KalVista Pharmaceuticals by 22.9% during the third quarter. FMR LLC now owns 66,423 shares of the specialty pharmaceutical company’s stock worth $769,000 after purchasing an additional 12,397 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).