Wall Street Zen Downgrades KalVista Pharmaceuticals (NASDAQ:KALV) to Hold

KalVista Pharmaceuticals (NASDAQ:KALV) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other brokerages have also issued reports on KALV. Weiss Ratings reiterated a “sell (d-)” rating on shares of KalVista Pharmaceuticals in a research note on Thursday, January 22nd. HC Wainwright upped their price target on KalVista Pharmaceuticals from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Needham & Company LLC increased their target price on KalVista Pharmaceuticals from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Citizens Jmp lowered their target price on KalVista Pharmaceuticals from $29.00 to $28.00 and set a “market outperform” rating for the company in a research report on Thursday, March 26th. Finally, Stifel Nicolaus increased their price target on KalVista Pharmaceuticals from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

KalVista Pharmaceuticals Trading Up 1.5%

Shares of KALV stock opened at $20.19 on Friday. KalVista Pharmaceuticals has a 52-week low of $9.23 and a 52-week high of $21.31. 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 firm has a market capitalization of $1.03 billion, a PE ratio of -5.11 and a beta of -0.40. The stock has a fifty day simple moving average of $16.54 and a two-hundred day simple moving average of $14.70.

Insider Activity

In other news, CFO Brian Piekos sold 1,767 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was 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 trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Benjamin L. Palleiko sold 10,034 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $15.57, for a total value of $156,229.38. Following the sale, the chief executive officer directly owned 442,883 shares in the company, valued at approximately $6,895,688.31. The trade was a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 248,009 shares of company stock valued at $4,213,467. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On KalVista Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in KALV. 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in KalVista Pharmaceuticals in the third quarter worth about $55,000. Wolverine Asset Management LLC acquired a new stake in KalVista Pharmaceuticals in the third quarter worth about $57,000. KLP Kapitalforvaltning AS acquired a new stake in KalVista Pharmaceuticals in the third quarter worth about $63,000. Finally, Truvestments Capital LLC boosted its holdings in KalVista Pharmaceuticals by 253.8% in the fourth quarter. Truvestments Capital LLC now owns 4,684 shares of the specialty pharmaceutical company’s stock worth $76,000 after acquiring an additional 3,360 shares in the last quarter.

KalVista Pharmaceuticals Company Profile

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.