Paloma Partners Management Co Takes $482,000 Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Paloma Partners Management Co bought a new stake in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) in the 3rd quarter, HoldingsChannel reports. The fund bought 19,300 shares of the company’s stock, valued at approximately $482,000.

Several other large investors have also recently made changes to their positions in KNSA. 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 last quarter. FMR LLC grew its stake in shares of Kiniksa Pharmaceuticals by 36,925.0% during the 3rd quarter. FMR LLC now owns 696,810 shares of the company’s stock worth $17,413,000 after acquiring an additional 694,928 shares during the period. Millennium Management LLC grew its stake 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 acquiring an additional 382,539 shares during the period. Rubric Capital Management LP grew its stake in shares of Kiniksa Pharmaceuticals by 10.2% during the 2nd quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company’s stock worth $45,165,000 after acquiring an additional 223,094 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Kiniksa Pharmaceuticals by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock worth $12,398,000 after acquiring an additional 157,741 shares during the period. 53.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on KNSA. JPMorgan Chase & Co. increased their price target on 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 increased their price target on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group began coverage on Kiniksa Pharmaceuticals in a research note on Friday, September 13th. They set a “buy” rating and a $40.00 price target for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Kiniksa Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $36.60.

Kiniksa Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ KNSA opened at $21.13 on Thursday. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $16.56 and a 52 week high of $28.15. The business has a 50-day simple moving average of $23.83 and a two-hundred day simple moving average of $23.00. The company has a market cap of $1.53 billion, a P/E ratio of -150.85 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its 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 during the quarter, compared to the consensus estimate of $111.51 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The firm’s revenue for the quarter was up 67.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) EPS. Equities research analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

Insider Activity

In other news, COO Eben Tessari sold 17,000 shares of Kiniksa Pharmaceuticals stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.87, for a total transaction of $456,790.00. Following the completion of the sale, the chief operating officer now owns 109,975 shares in the company, valued at approximately $2,955,028.25. This trade represents a 13.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 54.57% of the company’s stock.

Kiniksa Pharmaceuticals 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.