Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Sees Significant Drop in Short Interest

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 4,090,000 shares, a drop of 11.9% from the September 15th total of 4,640,000 shares. Based on an average trading volume of 468,500 shares, the days-to-cover ratio is presently 8.7 days.

Insider Buying and Selling

In other news, CFO Mark Ragosa sold 24,248 shares of Kiniksa Pharmaceuticals stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $24.79, for a total value of $601,107.92. Following the completion of the transaction, the chief financial officer now owns 19,253 shares of the company’s stock, valued at $477,281.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Eben Tessari sold 17,500 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $26.91, for a total value of $470,925.00. Following the completion of the sale, the chief operating officer now directly owns 119,911 shares in the company, valued at $3,226,805.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Ragosa sold 24,248 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $24.79, for a total transaction of $601,107.92. Following the sale, the chief financial officer now owns 19,253 shares of the company’s stock, valued at approximately $477,281.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 278,064 shares of company stock worth $7,165,254 in the last three months. 54.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 167.8% during the 1st quarter. Acadian Asset Management LLC now owns 164,568 shares of the company’s stock worth $3,240,000 after purchasing an additional 103,120 shares during the period. Sei Investments Co. purchased a new stake in shares of Kiniksa Pharmaceuticals in the first quarter worth approximately $1,450,000. Dimensional Fund Advisors LP lifted its stake in shares of Kiniksa Pharmaceuticals by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock worth $12,398,000 after acquiring an additional 157,741 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Kiniksa Pharmaceuticals by 8.1% during the 1st quarter. SG Americas Securities LLC now owns 19,160 shares of the company’s stock valued at $378,000 after acquiring an additional 1,435 shares during the period. Finally, Millennium Management LLC boosted its holdings in Kiniksa Pharmaceuticals by 159.8% during the 2nd quarter. Millennium Management LLC now owns 621,948 shares of the company’s stock valued at $11,612,000 after acquiring an additional 382,539 shares during the period. Institutional investors own 53.95% of the company’s stock.

Kiniksa Pharmaceuticals Trading Up 0.3 %

Shares of Kiniksa Pharmaceuticals stock opened at $26.63 on Tuesday. The firm has a market cap of $1.89 billion, a PE ratio of 242.09 and a beta of 0.33. Kiniksa Pharmaceuticals has a 12 month low of $14.12 and a 12 month high of $27.92. The stock has a 50 day moving average of $25.42 and a 200 day moving average of $21.78.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Kiniksa Pharmaceuticals had a negative net margin of 3.10% and a negative return on equity of 7.79%. The company had revenue of $108.30 million for the quarter, compared to the consensus estimate of $90.60 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Kiniksa Pharmaceuticals’s revenue was up 51.5% on a year-over-year basis. As a group, equities research analysts forecast that Kiniksa Pharmaceuticals will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on KNSA shares. Jefferies Financial Group initiated coverage on shares of Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 target price for the company. Wedbush increased their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $33.60.

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.