Zacks Investment Research upgraded shares of Kalvista Pharmaceuticals (NASDAQ:KALV) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $20.00 price objective on the specialty pharmaceutical company’s stock.
According to Zacks, “KalVista Pharmaceuticals, Inc. is a pharmaceuticals company. It engages in discovery, development and commercialization of small molecule protease inhibitors for diseases with significant unmet need. Its product portfolio consist hereditary angioedema and diabetic macular edema, KVD818 and KVD001, which are in clinical stage. KalVista Pharmaceuticals, Inc., formerly known as Carbylan Therapeutics, Inc., is headquartered in Cambridge, United States. “
A number of other research firms have also weighed in on KALV. BidaskClub lowered shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday. Needham & Company LLC raised their price objective on shares of Zuora from $27.00 to $30.00 and gave the company a strong-buy rating in a research note on Wednesday, March 20th. Roth Capital restated a buy rating on shares of Kalvista Pharmaceuticals in a research note on Tuesday, May 28th. Finally, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $29.40.
NASDAQ:KALV traded down $1.38 on Wednesday, reaching $17.57. 143,811 shares of the stock traded hands, compared to its average volume of 147,667. The firm has a market capitalization of $303.03 million, a P/E ratio of -11.48 and a beta of 2.13. Kalvista Pharmaceuticals has a 12 month low of $7.95 and a 12 month high of $34.92. The stock’s fifty day moving average is $20.71.
In other news, CEO Thomas Andrew Crockett sold 10,000 shares of Kalvista Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.80, for a total value of $248,000.00. Following the completion of the sale, the chief executive officer now directly owns 258,810 shares in the company, valued at $6,418,488. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Benjamin L. Palleiko sold 3,073 shares of Kalvista Pharmaceuticals stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $25.70, for a total transaction of $78,976.10. Following the completion of the sale, the chief financial officer now owns 33,573 shares of the company’s stock, valued at $862,826.10. The disclosure for this sale can be found here. Insiders sold 25,501 shares of company stock valued at $645,553 over the last quarter. Company insiders own 38.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Kalvista Pharmaceuticals by 133.5% during the fourth quarter. BlackRock Inc. now owns 45,078 shares of the specialty pharmaceutical company’s stock worth $891,000 after purchasing an additional 25,769 shares during the period. Northern Trust Corp increased its stake in Kalvista Pharmaceuticals by 32.7% in the fourth quarter. Northern Trust Corp now owns 40,728 shares of the specialty pharmaceutical company’s stock valued at $805,000 after acquiring an additional 10,034 shares during the last quarter. Flinton Capital Management LLC bought a new position in Kalvista Pharmaceuticals in the fourth quarter valued at approximately $26,000. Geode Capital Management LLC increased its stake in Kalvista Pharmaceuticals by 30.6% in the fourth quarter. Geode Capital Management LLC now owns 83,881 shares of the specialty pharmaceutical company’s stock valued at $1,656,000 after acquiring an additional 19,636 shares during the last quarter. Finally, Polar Capital LLP bought a new position in Kalvista Pharmaceuticals in the fourth quarter valued at approximately $1,558,000. Hedge funds and other institutional investors own 80.64% of the company’s stock.
About Kalvista Pharmaceuticals
KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes small molecule protease inhibitors. The company's product portfolio comprises small molecule plasma kallikrein inhibitors targeting hereditary angioedema (HAE) and diabetic macular edema (DME); and oral plasma kallikrein inhibitors.
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