Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) CEO Sells $3,491,580.60 in Stock

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) CEO Sanj K. Patel sold 136,124 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $25.65, for a total transaction of $3,491,580.60. Following the completion of the transaction, the chief executive officer now directly owns 63,012 shares in the company, valued at $1,616,257.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Kiniksa Pharmaceuticals Stock Up 0.8 %

Shares of KNSA stock opened at $26.12 on Friday. Kiniksa Pharmaceuticals, Ltd. has a 52-week low of $14.12 and a 52-week high of $27.88. The stock’s 50-day moving average price is $19.97 and its 200 day moving average price is $19.47. The stock has a market capitalization of $1.85 billion, a PE ratio of 237.48 and a beta of 0.38.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. Kiniksa Pharmaceuticals had a negative return on equity of 7.83% and a negative net margin of 3.10%. The business had revenue of $108.30 million during the quarter, compared to analysts’ expectations of $90.60 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The company’s quarterly revenue was up 51.5% compared to the same quarter last year. Analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Kiniksa Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Hhlr Advisors LTD. acquired a new position in shares of Kiniksa Pharmaceuticals during the first quarter worth about $61,868,000. Altitude Crest Partners Inc. acquired a new position in Kiniksa Pharmaceuticals during the 4th quarter worth approximately $7,999,000. Peregrine Capital Management LLC purchased a new position in shares of Kiniksa Pharmaceuticals during the 1st quarter worth approximately $4,657,000. Granahan Investment Management LLC lifted its holdings in shares of Kiniksa Pharmaceuticals by 35.2% in the 4th quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock valued at $12,671,000 after buying an additional 188,174 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Kiniksa Pharmaceuticals in the first quarter valued at approximately $3,107,000. Institutional investors and hedge funds own 53.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KNSA. JPMorgan Chase & Co. raised their price objective on Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wedbush lifted their price target on Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company began coverage on Kiniksa Pharmaceuticals in a report on Friday, May 3rd. They issued an “overweight” rating and a $34.00 price objective for the company. Finally, Evercore ISI lifted their target price on shares of Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $32.00.

Kiniksa Pharmaceuticals Company Profile

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.