Balyasny Asset Management L.P. Takes $256,000 Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Balyasny Asset Management L.P. purchased a new position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,921 shares of the company's stock, valued at approximately $256,000.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Kiniksa Pharmaceuticals by 138.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,800 shares of the company's stock valued at $9,451,000 after acquiring an additional 277,827 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Kiniksa Pharmaceuticals during the 4th quarter valued at about $3,955,000. ExodusPoint Capital Management LP grew its stake in Kiniksa Pharmaceuticals by 965.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 127,161 shares of the company's stock valued at $2,515,000 after acquiring an additional 115,223 shares in the last quarter. Globeflex Capital L P grew its stake in Kiniksa Pharmaceuticals by 217.1% during the 4th quarter. Globeflex Capital L P now owns 88,596 shares of the company's stock valued at $1,752,000 after acquiring an additional 60,656 shares in the last quarter. Finally, Algert Global LLC grew its stake in Kiniksa Pharmaceuticals by 49.0% during the 4th quarter. Algert Global LLC now owns 135,814 shares of the company's stock valued at $2,686,000 after acquiring an additional 44,655 shares in the last quarter. Institutional investors and hedge funds own 53.95% of the company's stock.

Analyst Ratings Changes

KNSA has been the subject of several research reports. Citigroup initiated coverage on shares of Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They set a "buy" rating and a $40.00 price objective for the company. Wedbush reissued an "outperform" rating and issued a $34.00 price target on shares of Kiniksa Pharmaceuticals in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group increased their price target on shares of Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kiniksa Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $38.80.

Insider Buying and Selling

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 36,372 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $22.25, for a total transaction of $809,277.00. Following the sale, the chief financial officer now directly owns 22,958 shares in the company, valued at $510,815.50. This represents a 61.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ross Moat sold 18,259 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $20.29, for a total transaction of $370,475.11. Following the sale, the insider now owns 9,415 shares in the company, valued at approximately $191,030.35. This trade represents a 65.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 231,640 shares of company stock valued at $5,669,136. Company insiders own 54.57% of the company's stock.

Kiniksa Pharmaceuticals Price Performance

Shares of NASDAQ:KNSA traded down $0.04 during mid-day trading on Tuesday, reaching $26.70. 308,838 shares of the company were exchanged, compared to its average volume of 485,073. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -190.70 and a beta of 0.07. The firm's 50-day simple moving average is $23.04 and its 200 day simple moving average is $21.40. Kiniksa Pharmaceuticals, Ltd. has a 1 year low of $17.38 and a 1 year high of $28.56.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.09. The firm had revenue of $137.79 million during the quarter, compared to analysts' expectations of $128.35 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The firm's quarterly revenue was up 72.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.25) EPS. On average, research analysts forecast that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current fiscal year.

About Kiniksa Pharmaceuticals

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.