KalVista Pharmaceuticals (NASDAQ:KALV) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

by · The Markets Daily

Shares of KalVista Pharmaceuticals, Inc. (NASDAQ:KALVGet Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.52 and traded as high as $15.88. KalVista Pharmaceuticals shares last traded at $15.61, with a volume of 793,272 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KALV. Citizens Jmp reduced their target price on KalVista Pharmaceuticals from $29.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen raised KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. TD Cowen restated a “buy” rating on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 3rd. Citigroup reaffirmed a “market outperform” rating on shares of KalVista Pharmaceuticals in a research note on Tuesday, November 11th. Finally, HC Wainwright boosted their target price on shares of KalVista Pharmaceuticals from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.40.

View Our Latest Stock Analysis on KALV

KalVista Pharmaceuticals Stock Down 1.0%

The firm has a market cap of $819.42 million, a price-to-earnings ratio of -4.10 and a beta of -0.35. The company has a quick ratio of 7.21, a current ratio of 7.22 and a debt-to-equity ratio of 8.18. The firm has a fifty day moving average price of $15.54 and a 200-day moving average price of $14.09.

Insider Activity at KalVista Pharmaceuticals

In other news, CEO Benjamin L. Palleiko sold 10,034 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $15.57, for a total transaction of $156,229.38. Following the transaction, the chief executive officer directly owned 442,883 shares in the company, valued at $6,895,688.31. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian Piekos sold 1,767 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $15.57, for a total transaction of $27,512.19. Following the completion of the sale, the chief financial officer owned 13,762 shares of the company’s stock, valued at approximately $214,274.34. The trade was a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 33,979 shares of company stock worth $535,091. 4.30% of the stock is owned by insiders.

Institutional Trading of KalVista Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in KalVista Pharmaceuticals by 47.0% in the second quarter. BNP Paribas Financial Markets now owns 4,041 shares of the specialty pharmaceutical company’s stock valued at $46,000 after purchasing an additional 1,292 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of KalVista Pharmaceuticals during the 3rd quarter valued at about $55,000. Wolverine Asset Management LLC bought a new stake in shares of KalVista Pharmaceuticals in the 3rd quarter valued at approximately $57,000. KLP Kapitalforvaltning AS acquired a new position in KalVista Pharmaceuticals in the third quarter worth approximately $63,000. Finally, Truvestments Capital LLC raised its position in KalVista Pharmaceuticals by 253.8% during the fourth quarter. Truvestments Capital LLC now owns 4,684 shares of the specialty pharmaceutical company’s stock valued at $76,000 after acquiring an additional 3,360 shares in the last quarter.

About KalVista Pharmaceuticals

(Get Free Report)

KalVista Pharmaceuticals is a clinical‐stage biotechnology company focused on the discovery and development of small‐molecule protease inhibitors for orphan and specialty disease indications. The firm’s scientific platform centers on selective inhibition of plasma kallikrein, a serine protease implicated in disorders characterized by vascular leak, edema and inflammation. KalVista’s approach leverages oral and intravitreal delivery formats to target both systemic and ophthalmic conditions.

The company’s lead programs include an oral plasma kallikrein inhibitor in clinical trials for the acute treatment of hereditary angioedema (HAE) attacks and an intravitreal kallikrein inhibitor being evaluated for diabetic macular edema.

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