KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Up 15% – Still a Buy?

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) rose 15% during trading on Wednesday . The stock traded as high as $15.63 and last traded at $15.5490. Approximately 613,498 shares traded hands during trading, a decline of 34% from the average daily volume of 927,839 shares. The stock had previously closed at $13.52.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on KALV shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of KalVista Pharmaceuticals in a report on Friday, September 12th. JMP Securities increased their price target on shares of KalVista Pharmaceuticals from $27.00 to $28.00 and gave the company a “market outperform” rating in a report on Friday, September 12th. Weiss Ratings restated a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a report on Wednesday, October 8th. Citigroup reaffirmed a “market outperform” rating on shares of KalVista Pharmaceuticals in a research report on Tuesday, November 11th. Finally, Citizens Jmp reduced their target price on KalVista Pharmaceuticals from $29.00 to $28.00 and set a “market outperform” rating for the company in a report on Tuesday, November 11th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, KalVista Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $26.63.

KalVista Pharmaceuticals Stock Performance

The firm has a market cap of $820.17 million, a P/E ratio of -4.11 and a beta of -0.14. The company has a debt-to-equity ratio of 8.18, a quick ratio of 7.21 and a current ratio of 7.22. The business’s 50-day simple moving average is $12.09 and its 200 day simple moving average is $12.94.

KalVista Pharmaceuticals (NASDAQ:KALV) last released its quarterly earnings results on Monday, November 10th. The specialty pharmaceutical company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.04. The firm had revenue of $13.69 million for the quarter, compared to the consensus estimate of $6.03 million. As a group, equities analysts predict that KalVista Pharmaceuticals, Inc. will post -3.56 earnings per share for the current year.

Insider Buying and Selling at KalVista Pharmaceuticals

In other news, CFO Brian Piekos sold 4,471 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $13.45, for a total value of $60,134.95. Following the transaction, the chief financial officer owned 10,529 shares in the company, valued at $141,615.05. This represents a 29.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Benjamin L. Palleiko sold 10,940 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $13.45, for a total transaction of $147,143.00. Following the completion of the transaction, the chief executive officer directly owned 416,189 shares in the company, valued at approximately $5,597,742.05. The trade was a 2.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 31,329 shares of company stock valued at $432,485. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On KalVista Pharmaceuticals

A number of institutional investors have recently bought and sold shares of KALV. Earned Wealth Advisors LLC purchased a new stake in KalVista Pharmaceuticals in the first quarter worth about $44,000. BNP Paribas Financial Markets lifted its position in shares of KalVista Pharmaceuticals by 47.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company’s stock valued at $46,000 after buying an additional 1,292 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of KalVista Pharmaceuticals during the 3rd quarter valued at approximately $55,000. Wolverine Asset Management LLC bought a new position in shares of KalVista Pharmaceuticals during the 3rd quarter valued at approximately $57,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in KalVista Pharmaceuticals in the 3rd quarter worth approximately $63,000.

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).