Bank of America Initiates Coverage on KalVista Pharmaceuticals (NASDAQ:KALV)

Analysts at Bank of America initiated coverage on shares of KalVista Pharmaceuticals (NASDAQ:KALV) in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $22.00 price target on the specialty pharmaceutical company’s stock. Bank of America‘s price target indicates a potential upside of 154.34% from the company’s current price.

A number of other research analysts have also commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KalVista Pharmaceuticals in a report on Monday, December 9th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a research note on Thursday, December 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of KalVista Pharmaceuticals in a research note on Friday, December 6th.

KalVista Pharmaceuticals Stock Down 3.4 %

Shares of NASDAQ:KALV opened at $8.65 on Wednesday. The stock has a market cap of $427.47 million, a PE ratio of -2.38 and a beta of 0.85. KalVista Pharmaceuticals has a 12-month low of $8.48 and a 12-month high of $16.88. The business has a 50 day moving average of $10.60 and a 200-day moving average of $11.73.

Insider Transactions at KalVista Pharmaceuticals

In other KalVista Pharmaceuticals news, insider Paul K. Audhya sold 8,077 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $9.26, for a total transaction of $74,793.02. Following the completion of the sale, the insider now directly owns 94,199 shares in the company, valued at $872,282.74. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Benjamin L. Palleiko sold 7,627 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $9.75, for a total value of $74,363.25. Following the completion of the sale, the chief executive officer now directly owns 274,596 shares in the company, valued at approximately $2,677,311. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,291 shares of company stock valued at $304,086. 10.50% of the stock is owned by corporate insiders.

Institutional Trading of KalVista Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Vestal Point Capital LP lifted its stake in 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 purchasing an additional 1,700,000 shares during the last quarter. Great Point Partners LLC acquired a new position in shares of KalVista Pharmaceuticals during the second quarter worth $15,768,000. Readystate Asset Management LP bought a new position in shares of KalVista Pharmaceuticals in the 3rd quarter valued at $2,084,000. Emerald Advisers LLC boosted its holdings in shares of KalVista Pharmaceuticals by 29.8% during the 3rd quarter. Emerald Advisers LLC now owns 835,988 shares of the specialty pharmaceutical company’s stock valued at $9,681,000 after acquiring an additional 192,091 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in KalVista Pharmaceuticals by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,437 shares of the specialty pharmaceutical company’s stock worth $182,000 after acquiring an additional 3,314 shares during the last quarter.

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).