Paloma Partners Management Co Buys New Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Paloma Partners Management Co bought a new stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,300 shares of the company’s stock, valued at approximately $482,000.

Several other institutional investors have also added to or reduced their stakes in KNSA. Essex Investment Management Co. LLC boosted its holdings in shares of Kiniksa Pharmaceuticals by 0.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 200,516 shares of the company’s stock worth $5,011,000 after buying an additional 717 shares in the last quarter. CWM LLC boosted its holdings in shares of Kiniksa Pharmaceuticals by 443.0% during the 3rd quarter. CWM LLC now owns 2,449 shares of the company’s stock worth $61,000 after buying an additional 1,998 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Kiniksa Pharmaceuticals by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,143 shares of the company’s stock worth $2,150,000 after buying an additional 2,563 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Kiniksa Pharmaceuticals by 65.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,810 shares of the company’s stock worth $195,000 after buying an additional 3,076 shares in the last quarter. Finally, Martingale Asset Management L P boosted its holdings in shares of Kiniksa Pharmaceuticals by 6.8% during the 3rd quarter. Martingale Asset Management L P now owns 48,460 shares of the company’s stock worth $1,211,000 after buying an additional 3,083 shares in the last quarter. 53.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on Kiniksa Pharmaceuticals in a report on Friday, September 13th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Evercore ISI increased their price target on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $36.60.

Insider Activity at Kiniksa Pharmaceuticals

In related news, COO Eben Tessari sold 17,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.87, for a total value of $456,790.00. Following the completion of the sale, the chief operating officer now directly owns 109,975 shares of the company’s stock, valued at approximately $2,955,028.25. This represents a 13.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 54.57% of the stock is currently owned by insiders.

Kiniksa Pharmaceuticals Stock Down 0.2 %

Shares of KNSA opened at $21.13 on Thursday. Kiniksa Pharmaceuticals, Ltd. has a 12-month low of $16.56 and a 12-month high of $28.15. The business’s fifty day moving average is $23.83 and its 200 day moving average is $23.00. The stock has a market cap of $1.53 billion, a P/E ratio of -150.85 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). The company had revenue of $112.21 million during the quarter, compared to analysts’ expectations of $111.51 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The company’s quarterly revenue was up 67.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) earnings per share. On average, analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

Kiniksa Pharmaceuticals 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.