KalVista Pharmaceuticals (NASDAQ:KALV) Price Target Cut to $28.00 by Analysts at Citizens Jmp

KalVista Pharmaceuticals (NASDAQ:KALV) had its price target reduced by analysts at Citizens Jmp from $29.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the specialty pharmaceutical company’s stock. Citizens Jmp’s target price would suggest a potential upside of 58.60% from the stock’s previous close.

A number of other research firms also recently weighed in on KALV. HC Wainwright increased their price objective on KalVista Pharmaceuticals from $27.00 to $37.00 and gave the company a “buy” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research report on Thursday, January 22nd. Needham & Company LLC increased their price target on KalVista Pharmaceuticals from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded KalVista Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, TD Cowen restated a “buy” rating on shares of KalVista Pharmaceuticals in a research report on Wednesday, December 3rd. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, KalVista Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $30.25.

KalVista Pharmaceuticals Price Performance

KALV stock opened at $17.65 on Thursday. The company has a market capitalization of $892.41 million, a P/E ratio of -4.40 and a beta of -0.35. The company has a fifty day moving average price of $15.87 and a 200-day moving average price of $14.41. The company has a debt-to-equity ratio of 8.18, a quick ratio of 7.21 and a current ratio of 7.22. KalVista Pharmaceuticals has a 52-week low of $9.23 and a 52-week high of $19.00.

Insider Activity at KalVista Pharmaceuticals

In other news, CFO Brian Piekos sold 1,767 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $15.57, for a total transaction of $27,512.19. Following the transaction, the chief financial officer owned 13,762 shares in the company, valued at approximately $214,274.34. This represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole Sweeny sold 3,975 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $15.57, for a total transaction of $61,890.75. Following the transaction, the insider directly owned 47,003 shares in the company, valued at $731,836.71. This trade represents a 7.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,378 shares of company stock worth $522,290 over the last three months. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP acquired a new stake in KalVista Pharmaceuticals in the fourth quarter valued at approximately $782,000. Invesco Ltd. raised its position in shares of KalVista Pharmaceuticals by 23.1% during the fourth quarter. Invesco Ltd. now owns 77,864 shares of the specialty pharmaceutical company’s stock worth $1,258,000 after purchasing an additional 14,621 shares during the period. XTX Topco Ltd bought a new position in shares of KalVista Pharmaceuticals in the 4th quarter worth $428,000. Vestal Point Capital LP lifted its holdings in shares of KalVista Pharmaceuticals by 152.0% in the 4th quarter. Vestal Point Capital LP now owns 1,890,000 shares of the specialty pharmaceutical company’s stock worth $30,524,000 after purchasing an additional 1,140,000 shares in the last quarter. Finally, Virtus Investment Advisers LLC grew its position in KalVista Pharmaceuticals by 364.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 40,414 shares of the specialty pharmaceutical company’s stock valued at $653,000 after purchasing an additional 31,721 shares during the period.

About KalVista Pharmaceuticals

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.