KalVista Pharmaceuticals (NASDAQ:KALV) Shares Down 3% – Time to Sell?

KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)’s stock price was down 3% during mid-day trading on Wednesday . The stock traded as low as $12.00 and last traded at $12.01. Approximately 89,287 shares traded hands during trading, a decline of 76% from the average daily volume of 379,709 shares. The stock had previously closed at $12.37.

Analyst Ratings Changes

Several equities analysts have recently commented on KALV shares. Bank of America started coverage on KalVista Pharmaceuticals in a research report on Wednesday, December 18th. They issued a “buy” rating and a $22.00 price objective on the stock. JMP Securities started coverage on KalVista Pharmaceuticals in a research report on Friday, January 31st. They issued an “outperform” rating and a $19.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Thursday, March 13th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research report on Friday, March 14th. Finally, TD Cowen started coverage on KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $23.80.

KalVista Pharmaceuticals Stock Performance

The stock has a fifty day moving average price of $10.05 and a 200-day moving average price of $10.28. The firm has a market capitalization of $592.57 million, a PE ratio of -3.27 and a beta of 0.76.

Insider Transactions at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, major shareholder Venrock Healthcare Capital Par acquired 100,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was purchased at an average price of $9.23 per share, with a total value of $923,000.00. Following the transaction, the insider now directly owns 5,217,285 shares of the company’s stock, valued at $48,155,540.55. This trade represents a 1.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Benjamin L. Palleiko sold 6,669 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 287,811 shares of the company’s stock, valued at $3,445,097.67. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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.

Institutional Trading of KalVista Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in KalVista Pharmaceuticals by 10.0% during the 4th quarter. SG Americas Securities LLC now owns 14,508 shares of the specialty pharmaceutical company’s stock worth $123,000 after acquiring an additional 1,319 shares during the period. HighVista Strategies LLC lifted its position in KalVista Pharmaceuticals by 4.5% during the 3rd quarter. HighVista Strategies LLC now owns 33,305 shares of the specialty pharmaceutical company’s stock worth $386,000 after acquiring an additional 1,432 shares during the period. Legal & General Group Plc lifted its position in KalVista Pharmaceuticals by 22.5% during the 4th 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. JPMorgan Chase & Co. lifted its position in KalVista Pharmaceuticals by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,610 shares of the specialty pharmaceutical company’s stock worth $262,000 after acquiring an additional 1,670 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in KalVista Pharmaceuticals by 24.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock worth $87,000 after acquiring an additional 2,043 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).