Essex Investment Management Co. LLC Grows Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

by · The Markets Daily

Essex Investment Management Co. LLC grew its position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA – Free Report) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,516 shares of the company’s stock after acquiring an additional 717 shares during the quarter. Essex Investment Management Co. LLC owned about 0.28% of Kiniksa Pharmaceuticals worth $5,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC increased its position in shares of Kiniksa Pharmaceuticals by 443.0% in the 3rd quarter. CWM LLC now owns 2,449 shares of the company’s stock worth $61,000 after purchasing an additional 1,998 shares during the last quarter. Algert Global LLC increased its position in Kiniksa Pharmaceuticals by 78.1% in the 2nd quarter. Algert Global LLC now owns 18,603 shares of the company’s stock valued at $347,000 after acquiring an additional 8,156 shares during the period. Lynx1 Capital Management LP acquired a new position in shares of Kiniksa Pharmaceuticals during the second quarter valued at $177,000. Millennium Management LLC raised its position in shares of Kiniksa Pharmaceuticals by 159.8% during the 2nd quarter. Millennium Management LLC now owns 621,948 shares of the company’s stock worth $11,612,000 after buying an additional 382,539 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Kiniksa Pharmaceuticals by 84.0% during the second quarter. Squarepoint Ops LLC now owns 24,845 shares of the company’s stock worth $464,000 after purchasing an additional 11,344 shares in the last quarter. Institutional investors and hedge funds own 53.95% of the company’s stock.

Insiders Place Their Bets

In related news, insider John F. Paolini sold 22,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $26.32, for a total value of $579,040.00. Following the completion of the sale, the insider now directly owns 47,803 shares of the company’s stock, valued at approximately $1,258,174.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kiniksa Pharmaceuticals news, insider John F. Paolini sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $26.32, for a total value of $579,040.00. Following the transaction, the insider now owns 47,803 shares in the company, valued at approximately $1,258,174.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanj K. Patel sold 136,124 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $25.65, for a total transaction of $3,491,580.60. Following the completion of the sale, the chief executive officer now owns 63,012 shares of the company’s stock, valued at approximately $1,616,257.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,064 shares of company stock worth $7,165,254. Corporate insiders own 54.57% of the company’s stock.

Wall Street Analyst Weigh In

KNSA has been the topic of several research reports. Wedbush boosted their price target on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group started coverage on shares of Kiniksa Pharmaceuticals in a report on Friday, September 13th. They issued a “buy” rating and a $40.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Kiniksa Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $33.60.

Check Out Our Latest Research Report on KNSA

Kiniksa Pharmaceuticals Stock Performance

Shares of NASDAQ:KNSA traded up $1.07 during midday trading on Friday, reaching $26.56. The company had a trading volume of 290,542 shares, compared to its average volume of 419,403. The company has a fifty day simple moving average of $25.36 and a two-hundred day simple moving average of $21.72. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -165.99 and a beta of 0.33. Kiniksa Pharmaceuticals, Ltd. has a 1-year low of $14.12 and a 1-year high of $27.92.

Kiniksa Pharmaceuticals (NASDAQ:KNSA – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $90.60 million. During the same period last year, the company posted ($0.02) earnings per share. The business’s revenue for the quarter was up 51.5% on a year-over-year basis. Analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.29 EPS for the current year.

Kiniksa Pharmaceuticals Company Profile

(Free Report)

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.

Further Reading

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