Balyasny Asset Management L.P. Makes New Investment in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

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

A number of other institutional investors and hedge funds also recently bought and sold shares of KNSA. JPMorgan Chase & Co. boosted its stake in Kiniksa Pharmaceuticals by 138.9% in the fourth quarter. JPMorgan Chase & Co. now owns 477,800 shares of the company's stock worth $9,451,000 after purchasing an additional 277,827 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Kiniksa Pharmaceuticals in the fourth quarter worth $3,955,000. ExodusPoint Capital Management LP boosted its stake in Kiniksa Pharmaceuticals by 965.2% in the fourth quarter. ExodusPoint Capital Management LP now owns 127,161 shares of the company's stock worth $2,515,000 after purchasing an additional 115,223 shares in the last quarter. Globeflex Capital L P boosted its stake in Kiniksa Pharmaceuticals by 217.1% in the fourth quarter. Globeflex Capital L P now owns 88,596 shares of the company's stock worth $1,752,000 after purchasing an additional 60,656 shares in the last quarter. Finally, Algert Global LLC boosted its stake in Kiniksa Pharmaceuticals by 49.0% in the fourth quarter. Algert Global LLC now owns 135,814 shares of the company's stock worth $2,686,000 after purchasing an additional 44,655 shares in the last quarter. Institutional investors and hedge funds own 53.95% of the company's stock.

Insider Activity at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 2,872 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $27.03, for a total value of $77,630.16. Following the completion of the sale, the chief executive officer now directly owns 96,674 shares in the company, valued at $2,613,098.22. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ross Moat sold 64,035 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $25.21, for a total value of $1,614,322.35. Following the completion of the sale, the insider now owns 9,415 shares of the company's stock, valued at $237,352.15. This trade represents a 87.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,640 shares of company stock worth $5,986,056. 54.57% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup assumed coverage on Kiniksa Pharmaceuticals in a research report on Thursday, March 13th. They set a "buy" rating and a $40.00 target price for the company. Wedbush restated an "outperform" rating and set a $34.00 target price on shares of Kiniksa Pharmaceuticals in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group boosted their target price on Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kiniksa Pharmaceuticals currently has a consensus rating of "Buy" and an average target price of $38.80.

Kiniksa Pharmaceuticals Stock Up 3.6%

NASDAQ KNSA traded up $0.94 on Friday, reaching $26.89. The company had a trading volume of 590,247 shares, compared to its average volume of 487,154. The stock's 50 day moving average is $23.26 and its 200-day moving average is $21.50. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -192.06 and a beta of 0.07. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $17.38 and a 52 week high of $28.56.

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

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.