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CAMBRIDGE, MA—KalVista Pharmaceuticals, Inc. (NASDAQ:KALV), a biopharmaceutical company with a market capitalization of $532 million and shares trading at $10.78, saw its Chief Medical (TASE:BLWV) Officer Paul K. Audhya recently execute a series of stock transactions, according to a recent SEC filing. The stock has shown strong momentum, gaining over 27% year-to-date. InvestingPro data reveals analyst price targets ranging from $18 to $39, suggesting significant upside potential. On February 24, Audhya sold 2,394 shares of KalVista common stock at a price of $10.02 per share, amounting to a total value of $23,987. This sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs), rather than a discretionary transaction.
Additionally, on February 22, Audhya acquired 5,000 shares of common stock through the exercise of RSUs, with no cash consideration involved. This follows a previous acquisition of 100,000 RSUs on February 21, also at no cost. As of the latest transactions, Audhya holds 102,940 shares of KalVista common stock directly.
In other recent news, Kalvista Pharmaceuticals has been actively advancing its drug sebetralstat, a promising oral on-demand therapy for hereditary angioedema (HAE). The company recently received Orphan Drug Designation for sebetralstat from Japan’s Ministry of Health, Labour and Welfare, alongside submitting a New Drug Application in Japan. The submission is supported by data from the extensive KONFIDENT phase 3 clinical trial, which involved 136 patients across 20 countries. Meanwhile, TD Cowen initiated coverage on Kalvista, assigning a Buy rating and a $30 price target, citing sebetralstat’s potential to achieve over $750 million in peak sales. JMP Securities also maintained a Market Outperform rating for Kalvista, with a $19 price target, emphasizing the market’s undervaluation and the growth potential of the HAE treatment market. The firm highlighted the ongoing need for effective on-demand treatments, with sebetralstat positioned to meet this demand. Kalvista’s efforts in regulatory submissions extend to the U.S. FDA and the European Medicines Agency, with a PDUFA goal date set for June 17, 2025. These developments underscore Kalvista’s strategic focus on addressing unmet needs in HAE treatment, with sebetralstat poised to potentially reshape the treatment landscape.
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