KalVista Pharmaceuticals’ (KALV) Buy Rating Reiterated at HC Wainwright

KalVista Pharmaceuticals (NASDAQ:KALV)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $20.00 price target on the specialty pharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 63.27% from the company’s current price.

Several other equities analysts also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of KalVista Pharmaceuticals in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Bank of America initiated coverage on shares of KalVista Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $22.00 price objective for the company. Citizens Jmp upgraded shares of KalVista Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 31st. Finally, TD Cowen started coverage on shares of KalVista Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, KalVista Pharmaceuticals has a consensus rating of “Buy” and an average target price of $23.80.

KalVista Pharmaceuticals Stock Performance

KALV opened at $12.25 on Friday. The stock’s 50 day moving average price is $9.67 and its 200-day moving average price is $10.30. KalVista Pharmaceuticals has a one year low of $7.30 and a one year high of $15.50. The stock has a market cap of $605.37 million, a price-to-earnings ratio of -3.37 and a beta of 0.76.

Insiders Place Their Bets

In other news, CEO Benjamin L. Palleiko sold 5,104 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.82, for a total value of $50,121.28. Following the completion of the transaction, the chief executive officer now directly owns 278,855 shares of the company’s stock, valued at approximately $2,738,356.10. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Venrock Healthcare Capital Par acquired 43,707 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $8.76 per share, for a total transaction of $382,873.32. Following the transaction, the insider now owns 4,986,480 shares of the company’s stock, valued at $43,681,564.80. This represents a 0.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 236,055 shares of company stock worth $2,162,146 and have sold 17,292 shares worth $184,625. 10.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Vestal Point Capital LP boosted 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 valued at $46,320,000 after buying an additional 1,700,000 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in KalVista Pharmaceuticals in the fourth quarter valued at approximately $13,467,000. Octagon Capital Advisors LP purchased a new position in KalVista Pharmaceuticals in the fourth quarter worth $11,604,000. Frazier Life Sciences Management L.P. increased its position in shares of KalVista Pharmaceuticals by 32.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 4,887,867 shares of the specialty pharmaceutical company’s stock worth $41,400,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, Stempoint Capital LP purchased a new stake in shares of KalVista Pharmaceuticals during the 4th quarter valued at $8,409,000.

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).