Needham & Company LLC Reiterates “Buy” Rating for KalVista Pharmaceuticals (NASDAQ:KALV)

Needham & Company LLC reaffirmed their buy rating on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $28.00 target price on the specialty pharmaceutical company’s stock.

Several other research analysts also recently commented on the company. Citizens Jmp raised KalVista Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a research report on Monday, December 9th. JMP Securities assumed coverage on shares of KalVista Pharmaceuticals in a report on Friday, January 31st. They issued an “outperform” rating and a $19.00 price target for the company. TD Cowen started coverage on shares of KalVista Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Bank of America assumed coverage on shares of KalVista Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $22.00 target price for the company. Seven investment 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, KalVista Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $24.83.

KalVista Pharmaceuticals Stock Performance

KalVista Pharmaceuticals stock opened at $11.93 on Wednesday. KalVista Pharmaceuticals has a 52 week low of $7.30 and a 52 week high of $15.50. The firm has a market capitalization of $593.11 million, a PE ratio of -3.28 and a beta of 0.76. The business’s 50-day simple moving average is $10.56 and its 200-day simple moving average is $10.26.

Insider Activity

In related news, major shareholder Venrock Healthcare Capital Par purchased 14,562 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $9.22 per share, with a total value of $134,261.64. Following the purchase, the insider now directly owns 5,012,796 shares in the company, valued at $46,217,979.12. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Benjamin L. Palleiko sold 5,104 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.82, for a total value of $50,121.28. Following the completion of the sale, the chief executive officer now owns 278,855 shares in the company, valued at $2,738,356.10. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 236,055 shares of company stock worth $2,162,146 and sold 17,292 shares worth $184,625. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On KalVista Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC acquired a new stake in shares of KalVista Pharmaceuticals during the 4th quarter worth about $44,000. Tower Research Capital LLC TRC grew its holdings in KalVista Pharmaceuticals by 666.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,327 shares of the specialty pharmaceutical company’s stock worth $54,000 after acquiring an additional 5,502 shares during the last quarter. Legal & General Group Plc raised its position in KalVista Pharmaceuticals by 22.5% in the 4th quarter. Legal & General Group Plc now owns 8,144 shares of the specialty pharmaceutical company’s stock worth $69,000 after purchasing an additional 1,494 shares during the last quarter. Martin Worley Group acquired a new position in shares of KalVista Pharmaceuticals during the fourth quarter valued at $86,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of KalVista Pharmaceuticals by 24.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,329 shares of the specialty pharmaceutical company’s stock valued at $87,000 after purchasing an additional 2,043 shares during 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).