Arizona State Retirement System Purchases New Stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Arizona State Retirement System acquired a new position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 11,192 shares of the company’s stock, valued at approximately $209,000.

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

Insider Activity at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, insider John F. Paolini sold 60,692 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $26.12, for a total value of $1,585,275.04. Following the transaction, the insider now owns 52,038 shares in the company, valued at $1,359,232.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Kiniksa Pharmaceuticals news, insider John F. Paolini sold 60,692 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $26.12, for a total transaction of $1,585,275.04. Following the completion of the sale, the insider now directly owns 52,038 shares of the company’s stock, valued at $1,359,232.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Ragosa sold 24,248 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $477,281.87. The disclosure for this sale can be found here. Insiders sold a total of 260,564 shares of company stock valued at $6,727,929 over the last ninety days. Insiders own 54.57% of the company’s stock.

Kiniksa Pharmaceuticals Stock Performance

Shares of NASDAQ KNSA opened at $25.27 on Thursday. Kiniksa Pharmaceuticals, Ltd. has a 1 year low of $14.12 and a 1 year high of $27.92. The firm has a market cap of $1.79 billion, a P/E ratio of 230.82 and a beta of 0.33. The stock has a fifty day moving average price of $24.93 and a two-hundred day moving average price of $21.14.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $108.30 million during the quarter, compared to the consensus estimate of $90.60 million. Kiniksa Pharmaceuticals had a negative net margin of 3.10% and a negative return on equity of 7.79%. Kiniksa Pharmaceuticals’s revenue was up 51.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. On average, research analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wedbush raised their target price on Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group assumed coverage on Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average 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.