Pictet Asset Management Holding SA Decreases Stock Holdings in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Pictet Asset Management Holding SA lessened its holdings in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,133,931 shares of the company’s stock after selling 73,818 shares during the period. Pictet Asset Management Holding SA owned about 1.57% of Kiniksa Pharmaceuticals worth $22,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP purchased a new position in shares of Kiniksa Pharmaceuticals in the third quarter valued at $50,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Kiniksa Pharmaceuticals during the fourth quarter valued at about $158,000. China Universal Asset Management Co. Ltd. increased its position in shares of Kiniksa Pharmaceuticals by 12.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,814 shares of the company’s stock worth $174,000 after acquiring an additional 1,004 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Kiniksa Pharmaceuticals in the third quarter worth about $189,000. Finally, Teacher Retirement System of Texas boosted its holdings in Kiniksa Pharmaceuticals by 7.1% in the fourth quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company’s stock valued at $215,000 after purchasing an additional 719 shares during the last quarter. Institutional investors and hedge funds own 53.95% of the company’s stock.

Analysts Set New Price Targets

KNSA has been the topic of several analyst reports. Wedbush restated an “outperform” rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Citigroup initiated coverage on Kiniksa Pharmaceuticals in a research report on Thursday, March 13th. They issued a “buy” rating and a $40.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $37.17.

Kiniksa Pharmaceuticals Stock Down 3.8 %

Shares of NASDAQ KNSA opened at $22.21 on Tuesday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -158.63 and a beta of 0.48. The firm’s 50-day moving average price is $20.84 and its two-hundred day moving average price is $21.95. Kiniksa Pharmaceuticals, Ltd. has a 52-week low of $16.56 and a 52-week high of $28.15.

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

Insider Transactions at Kiniksa Pharmaceuticals

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

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.