Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,735 shares of the company’s stock after selling 5,654 shares during the quarter. M&T Bank Corp’s holdings in Kiniksa Pharmaceuticals were worth $768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of KNSA. XTX Topco Ltd boosted its holdings in shares of Kiniksa Pharmaceuticals by 62.2% in the 3rd quarter. XTX Topco Ltd now owns 27,302 shares of the company’s stock valued at $682,000 after acquiring an additional 10,474 shares during the last quarter. Castleark Management LLC purchased a new stake in Kiniksa Pharmaceuticals in the third quarter valued at $4,178,000. Jane Street Group LLC grew its position in Kiniksa Pharmaceuticals by 1,064.4% during the 3rd quarter. Jane Street Group LLC now owns 345,092 shares of the company’s stock worth $8,624,000 after purchasing an additional 315,456 shares during the period. Wellington Management Group LLP purchased a new position in shares of Kiniksa Pharmaceuticals during the 3rd quarter valued at about $1,192,000. Finally, Quarry LP acquired a new position in shares of Kiniksa Pharmaceuticals in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 53.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 17,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.87, for a total value of $456,790.00. Following the sale, the chief operating officer now directly owns 109,975 shares in the company, valued at $2,955,028.25. This trade represents a 13.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Ragosa sold 8,969 shares of Kiniksa Pharmaceuticals stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $21.45, for a total value of $192,385.05. Following the sale, the chief financial officer now directly owns 22,958 shares of the company’s stock, valued at $492,449.10. This trade represents a 28.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,592 shares of company stock worth $1,110,364. 54.57% of the stock is currently owned by company insiders.

Kiniksa Pharmaceuticals Stock Up 0.6 %

Shares of KNSA stock opened at $20.32 on Tuesday. The firm has a 50 day moving average of $23.18 and a two-hundred day moving average of $23.12. The stock has a market capitalization of $1.47 billion, a PE ratio of -145.14 and a beta of 0.27. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $16.56 and a 52 week high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The company had revenue of $112.21 million during the quarter, compared to analysts’ expectations of $111.51 million. During the same quarter last year, the business posted ($0.20) earnings per share. The company’s revenue for the quarter was up 67.4% on a year-over-year basis. Analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

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.