KalVista Pharmaceuticals (NASDAQ:KALV) Coverage Initiated at Bank of America

Stock analysts at Bank of America initiated coverage on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research report issued on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $22.00 price target on the specialty pharmaceutical company’s stock. Bank of America‘s target price points to a potential upside of 171.94% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a report on Thursday, December 5th. Cantor Fitzgerald restated an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of KalVista Pharmaceuticals in a report on Friday, December 6th.

KalVista Pharmaceuticals Trading Down 4.4 %

KALV opened at $8.09 on Wednesday. The firm has a market capitalization of $399.79 million, a PE ratio of -2.22 and a beta of 0.85. KalVista Pharmaceuticals has a twelve month low of $8.07 and a twelve month high of $16.88. The firm’s 50-day moving average price is $10.44 and its 200 day moving average price is $11.66.

Insider Activity at KalVista Pharmaceuticals

In related news, CEO Benjamin L. Palleiko sold 7,627 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $9.75, for a total transaction of $74,363.25. Following the completion of the sale, the chief executive officer now directly owns 274,596 shares of the company’s stock, valued at approximately $2,677,311. This trade represents a 2.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul K. Audhya sold 8,077 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $9.26, for a total transaction of $74,793.02. Following the completion of the sale, the insider now owns 94,199 shares in the company, valued at approximately $872,282.74. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,291 shares of company stock worth $304,086. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Vestal Point Capital LP lifted its holdings in shares of KalVista Pharmaceuticals by 73.9% in the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the specialty pharmaceutical company’s stock worth $46,320,000 after acquiring an additional 1,700,000 shares during the last quarter. Great Point Partners LLC purchased a new stake in KalVista Pharmaceuticals in the second quarter valued at approximately $15,768,000. Readystate Asset Management LP acquired a new position in KalVista Pharmaceuticals during the third quarter worth $2,084,000. Emerald Advisers LLC boosted its position in shares of KalVista Pharmaceuticals by 29.8% during the third quarter. Emerald Advisers LLC now owns 835,988 shares of the specialty pharmaceutical company’s stock worth $9,681,000 after buying an additional 192,091 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of KalVista Pharmaceuticals by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 15,437 shares of the specialty pharmaceutical company’s stock valued at $182,000 after buying an additional 3,314 shares in the last quarter.

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).