KalVista Pharmaceuticals (NASDAQ:KALV) Trading Up 15% – Here’s What Happened

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) shares were up 15% during mid-day trading on Wednesday . The stock traded as high as $15.63 and last traded at $15.5490. Approximately 613,498 shares traded hands during trading, a decline of 34% from the average daily volume of 927,839 shares. The stock had previously closed at $13.52.

Analyst Upgrades and Downgrades

KALV has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a research note on Friday, September 12th. JMP Securities raised their target price on shares of KalVista Pharmaceuticals from $27.00 to $28.00 and gave the stock a “market outperform” rating in a report on Friday, September 12th. Citigroup reiterated a “market outperform” rating on shares of KalVista Pharmaceuticals in a report on Tuesday, November 11th. Citizens Jmp dropped their price target on shares of KalVista Pharmaceuticals from $29.00 to $28.00 and set a “market outperform” rating for the company in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.63.

KalVista Pharmaceuticals Price Performance

The stock has a market cap of $820.17 million, a PE ratio of -4.11 and a beta of -0.14. The business has a fifty day simple moving average of $12.09 and a two-hundred day simple moving average of $12.94. The company has a current ratio of 7.22, a quick ratio of 7.21 and a debt-to-equity ratio of 8.18.

KalVista Pharmaceuticals (NASDAQ:KALV) last released its earnings results on Monday, November 10th. The specialty pharmaceutical company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.04. The firm had revenue of $13.69 million during the quarter, compared to analysts’ expectations of $6.03 million. Research analysts forecast that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current year.

Insider Buying and Selling at KalVista Pharmaceuticals

In other news, insider Paul K. Audhya sold 5,296 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $13.45, for a total transaction of $71,231.20. Following the sale, the insider owned 131,831 shares in the company, valued at approximately $1,773,126.95. The trade was a 3.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian Piekos sold 4,471 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $13.45, for a total transaction of $60,134.95. Following the completion of the sale, the chief financial officer directly owned 10,529 shares in the company, valued at $141,615.05. This represents a 29.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 31,329 shares of company stock valued at $432,485. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in KALV. Earned Wealth Advisors LLC purchased a new position in shares of KalVista Pharmaceuticals during the first quarter valued at approximately $44,000. BNP Paribas Financial Markets raised its stake in KalVista Pharmaceuticals by 47.0% during the second quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company’s stock valued at $46,000 after buying an additional 1,292 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in KalVista Pharmaceuticals in the third quarter worth $55,000. Wolverine Asset Management LLC bought a new stake in KalVista Pharmaceuticals in the third quarter worth $57,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of KalVista Pharmaceuticals in the third quarter worth $63,000.

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).