Cantor Fitzgerald Reaffirms “Overweight” Rating for KalVista Pharmaceuticals (NASDAQ:KALV)

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday,Benzinga reports.

Several other equities analysts have also recently issued reports on KALV. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Thursday.

KalVista Pharmaceuticals Price Performance

Shares of KALV traded down $0.05 during midday trading on Monday, reaching $9.76. The stock had a trading volume of 39,529 shares, compared to its average volume of 476,985. The company has a market capitalization of $482.34 million, a P/E ratio of -2.66 and a beta of 0.85. The firm’s 50 day moving average price is $10.90 and its 200-day moving average price is $11.82. KalVista Pharmaceuticals has a 52 week low of $7.39 and a 52 week high of $16.88.

KalVista Pharmaceuticals (NASDAQ:KALV) last released its earnings results on Thursday, September 5th. The specialty pharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.04. On average, equities analysts forecast that KalVista Pharmaceuticals will post -2.7 earnings per share for the current year.

Insider Activity

In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 14,400 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $9.26, for a total transaction of $133,344.00. Following the transaction, the chief executive officer now owns 266,598 shares in the company, valued at $2,468,697.48. This trade represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul K. Audhya sold 8,077 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $9.26, for a total value of $74,793.02. Following the completion of the sale, the insider now directly owns 94,199 shares of the company’s stock, valued at $872,282.74. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,664 shares of company stock worth $229,723 in the last three months. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vestal Point Capital LP raised its stake 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 valued at $46,320,000 after buying an additional 1,700,000 shares in the last quarter. Great Point Partners LLC bought a new position in KalVista Pharmaceuticals during the 2nd quarter valued at about $15,768,000. State Street Corp raised its position in KalVista Pharmaceuticals by 68.1% in the 3rd quarter. State Street Corp now owns 1,271,609 shares of the specialty pharmaceutical company’s stock valued at $14,725,000 after purchasing an additional 515,179 shares during the last quarter. Emerald Advisers LLC raised its holdings in shares of KalVista Pharmaceuticals by 29.8% in the third quarter. Emerald Advisers LLC now owns 835,988 shares of the specialty pharmaceutical company’s stock valued at $9,681,000 after buying an additional 192,091 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new position in KalVista Pharmaceuticals during the 3rd quarter worth about $2,084,000.

About KalVista Pharmaceuticals

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).