Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Stake Lessened by State Street Corp

State Street Corp decreased its position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 50.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,712 shares of the company’s stock after selling 713,235 shares during the period. State Street Corp’s holdings in Kiniksa Pharmaceuticals were worth $17,611,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Braidwell LP increased its position in shares of Kiniksa Pharmaceuticals by 40.6% during the 3rd quarter. Braidwell LP now owns 2,894,513 shares of the company’s stock valued at $72,334,000 after purchasing an additional 836,210 shares during the period. Rubric Capital Management LP boosted its stake in Kiniksa Pharmaceuticals by 10.2% during the second quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company’s stock valued at $45,165,000 after buying an additional 223,094 shares in the last quarter. Parkman Healthcare Partners LLC grew its holdings in Kiniksa Pharmaceuticals by 16.7% during the third quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company’s stock worth $18,874,000 after acquiring an additional 108,102 shares during the period. FMR LLC raised its position in Kiniksa Pharmaceuticals by 36,925.0% in the third quarter. FMR LLC now owns 696,810 shares of the company’s stock worth $17,413,000 after acquiring an additional 694,928 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Kiniksa Pharmaceuticals by 31.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock valued at $12,398,000 after acquiring an additional 157,741 shares during the last quarter. 53.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KNSA. JPMorgan Chase & Co. lifted their price objective on shares of Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI upped their price target on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group initiated coverage on Kiniksa Pharmaceuticals in a research note on Friday, September 13th. They set a “buy” rating and a $40.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.60.

Kiniksa Pharmaceuticals Stock Down 1.5 %

NASDAQ KNSA opened at $19.94 on Wednesday. The company has a 50 day moving average price of $22.52 and a two-hundred day moving average price of $23.16. Kiniksa Pharmaceuticals, Ltd. has a 12-month low of $16.56 and a 12-month high of $28.15. The stock has a market capitalization of $1.44 billion, a PE ratio of -142.42 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.17). The company had revenue of $112.21 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 67.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.20) EPS. As a group, equities analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 8,969 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $21.45, for a total value of $192,385.05. Following the completion of the sale, the chief financial officer now owns 22,958 shares in the company, valued at approximately $492,449.10. This trade represents a 28.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eben Tessari sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.87, for a total value of $456,790.00. Following the sale, the chief operating officer now owns 109,975 shares in the company, valued at approximately $2,955,028.25. This represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,092 shares of company stock valued at $673,039 in the last three months. Company insiders own 54.57% of the company’s stock.

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.