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CAMBRIDGE, MA—Christopher Yea, the Chief Development Officer of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV), recently sold shares of the company, according to a recent SEC filing. On February 18, Yea sold 2,601 shares at an average price of $9.8242 per share, amounting to a total transaction value of $25,552. The stock has since climbed to $10.71, marking a strong 26% gain year-to-date. According to InvestingPro analysis, the stock’s RSI indicates overbought conditions.
Additionally, on February 17, Yea executed transactions involving the acquisition of 4,204 shares of common stock through the vesting of restricted stock units. These shares were acquired at no cost, as each restricted stock unit represents a contingent right to receive one share of the company’s common stock upon settlement.
Following these transactions, Yea’s total direct ownership stands at 92,745 shares. The sale of shares was primarily conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units and performance stock units.
In other recent news, Kalvista Pharmaceuticals Inc. has been the focus of several analyst reports and regulatory developments. The company received Orphan Drug Designation for its drug sebetralstat from Japan’s Ministry of Health, Labour and Welfare, marking a significant step forward in the treatment of hereditary angioedema (HAE) in Japan. This comes as Kalvista also submitted a New Drug Application for sebetralstat in Japan, based on results from their extensive KONFIDENT phase 3 clinical trial. Additionally, TD Cowen initiated coverage of Kalvista with a Buy rating and a price target of $30.00, citing the drug’s potential to exceed $750 million in peak sales due to its pioneering role as an oral acute therapy for HAE.
JMP Securities has reiterated its Market Outperform rating for Kalvista, maintaining a $19.00 price target, emphasizing the drug’s potential impact on the HAE market. The firm noted that while prophylactic treatments dominate the market, the demand for on-demand therapies like sebetralstat remains significant. Analysts from JMP Securities suggest that the HAE market, valued at approximately $900 million, could expand with the introduction of sebetralstat. Furthermore, Kalvista’s regulatory submissions extend beyond Japan, with applications filed with the U.S. FDA and the European Medicines Agency.
The Prescription Drug User Fee Act goal date for the U.S. FDA review is set for June 17, 2025, which could pave the way for sebetralstat to become the first oral on-demand treatment for HAE in the United States. Kalvista’s strategic focus on addressing unmet needs in HAE treatment has drawn attention from multiple analyst firms, highlighting the potential for market growth and increased patient adoption. These developments underscore Kalvista’s ongoing efforts to innovate in the HAE treatment landscape.
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