Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 33.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 122,051 shares of the company’s stock after purchasing an additional 30,382 shares during the period. Bank of New York Mellon Corp’s holdings in Kiniksa Pharmaceuticals were worth $2,414,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Braidwell LP increased its stake in shares of Kiniksa Pharmaceuticals by 40.6% during the third quarter. Braidwell LP now owns 2,894,513 shares of the company’s stock valued at $72,334,000 after acquiring an additional 836,210 shares during the period. Parkman Healthcare Partners LLC increased its stake in shares of Kiniksa Pharmaceuticals by 16.7% during the third quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company’s stock valued at $18,874,000 after acquiring an additional 108,102 shares during the period. FMR LLC increased its stake in shares of Kiniksa Pharmaceuticals by 36,925.0% during the third quarter. FMR LLC now owns 696,810 shares of the company’s stock valued at $17,413,000 after acquiring an additional 694,928 shares during the period. Jane Street Group LLC increased its stake in shares of Kiniksa Pharmaceuticals by 1,064.4% during the third quarter. Jane Street Group LLC now owns 345,092 shares of the company’s stock valued at $8,624,000 after acquiring an additional 315,456 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Kiniksa Pharmaceuticals by 40.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 324,064 shares of the company’s stock valued at $8,098,000 after acquiring an additional 92,985 shares during the period. Institutional investors and hedge funds own 53.95% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, COO Eben Tessari sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $19.57, for a total value of $273,980.00. Following the completion of the transaction, the chief operating officer now owns 81,975 shares of the company’s stock, valued at approximately $1,604,250.75. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Ragosa sold 11,464 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.10, for a total transaction of $264,818.40. 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 32.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,766 shares of company stock valued at $2,011,735. Company insiders own 54.57% of the company’s stock.

Kiniksa Pharmaceuticals Stock Performance

Kiniksa Pharmaceuticals stock opened at $23.36 on Friday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -166.85 and a beta of 0.48. Kiniksa Pharmaceuticals, Ltd. has a 1 year low of $16.56 and a 1 year high of $28.15. The firm’s 50 day moving average price is $20.30 and its two-hundred day moving average price is $22.07.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted 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). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The business had revenue of $122.50 million during the quarter, compared to analyst estimates of $123.42 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 46.9% compared to the same quarter last year. As a group, equities analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

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.