Kiniksa Pharmaceuticals (NASDAQ:KNSA) Trading 4.4% Higher – What’s Next?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)’s stock price traded up 4.4% during mid-day trading on Thursday . The stock traded as high as $23.80 and last traded at $24.09. 104,316 shares were traded during mid-day trading, a decline of 83% from the average session volume of 602,096 shares. The stock had previously closed at $23.08.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KNSA shares. Citigroup started coverage on Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They set a “buy” rating and a $40.00 price objective on the stock. Wedbush reiterated an “outperform” rating and set a $34.00 price target on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $37.17.

Kiniksa Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.70 billion, a P/E ratio of -166.85 and a beta of 0.48. The stock has a 50 day moving average of $20.30 and a 200 day moving average of $22.07.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $122.50 million during the quarter, compared to analyst estimates of $123.42 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. Kiniksa Pharmaceuticals’s revenue was up 46.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. On average, research analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

Insider Activity

In related news, COO Eben Tessari sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $18.24, for a total transaction of $255,360.00. Following the completion of the transaction, the chief operating officer now owns 88,975 shares in the company, valued at $1,622,904. This trade represents a 13.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Ragosa sold 8,879 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $23.10, for a total transaction of $205,104.90. Following the completion of the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $540,124.20. The trade was a 27.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,766 shares of company stock worth $2,011,735 in the last ninety days. Corporate insiders own 54.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Braidwell LP grew its position in shares of Kiniksa Pharmaceuticals by 40.6% during the 3rd quarter. Braidwell LP now owns 2,894,513 shares of the company’s stock worth $72,334,000 after buying an additional 836,210 shares during the period. FMR LLC raised its holdings in Kiniksa Pharmaceuticals by 36,925.0% during the third quarter. FMR LLC now owns 696,810 shares of the company’s stock worth $17,413,000 after acquiring an additional 694,928 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Kiniksa Pharmaceuticals by 1,064.4% in the 3rd quarter. Jane Street Group LLC now owns 345,092 shares of the company’s stock valued at $8,624,000 after buying an additional 315,456 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Kiniksa Pharmaceuticals by 138.9% in the 4th quarter. JPMorgan Chase & Co. now owns 477,800 shares of the company’s stock valued at $9,451,000 after acquiring an additional 277,827 shares during the period. Finally, Millennium Management LLC raised its stake in Kiniksa Pharmaceuticals by 50.9% in the fourth quarter. Millennium Management LLC now owns 779,672 shares of the company’s stock valued at $15,422,000 after buying an additional 263,146 shares during the period. 53.95% of the stock is owned by institutional investors.

About Kiniksa Pharmaceuticals

Kiniksa Pharmaceuticals, Ltd., a biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical needs worldwide. Its product candidates include ARCALYST, an interleukin-1alpha and interleukin-1beta, for the treatment of recurrent pericarditis, which is an inflammatory cardiovascular disease; Mavrilimumab, a monoclonal antibody inhibitor that completed Phase II clinical trials for the treatment of giant cell arteritis; Vixarelimab, a monoclonal antibody, that is in Phase 2b clinical trial for the treatment of prurigo nodularis, a chronic inflammatory skin condition; and KPL-404, a monoclonal antibody inhibitor of the CD40- CD154 interaction, a T-cell co-stimulatory signal critical for B-cell maturation, immunoglobulin class switching, and type 1 immune response.