Cannon Global Investment Management LLC Makes New Investment in Kiniksa Pharmaceuticals International, plc $KNSA

Key Points

• Cannon Global Investment Management LLC has made a new investment in Kiniksa Pharmaceuticals International, purchasing 17,300 shares valued at approximately $479,000 during the second quarter.
• Insider sales included COO Eben Tessari selling 138,614 shares and CAO Michael R. Megna selling 17,000 shares, indicating a significant reduction in their ownership stakes.
• Kiniksa Pharmaceuticals reported earnings exceeding expectations, with $0.23 earnings per share for the quarter, surpassing the consensus estimate of $0.18 by $0.05.

Cannon Global Investment Management LLC bought a new position in Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 17,300 shares of the company's stock, valued at approximately $479,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Kiniksa Pharmaceuticals International during the 1st quarter valued at about $301,000. GAMMA Investing LLC increased its position in shares of Kiniksa Pharmaceuticals International by 84.8% during the 1st quarter. GAMMA Investing LLC now owns 1,238 shares of the company's stock valued at $27,000 after purchasing an additional 568 shares during the last quarter. Deutsche Bank AG increased its position in shares of Kiniksa Pharmaceuticals International by 177.1% during the 1st quarter. Deutsche Bank AG now owns 394,522 shares of the company's stock valued at $8,762,000 after purchasing an additional 252,125 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Kiniksa Pharmaceuticals International during the 1st quarter valued at about $1,184,000. Finally, Invesco Ltd. increased its position in shares of Kiniksa Pharmaceuticals International by 137.4% during the 1st quarter. Invesco Ltd. now owns 33,492 shares of the company's stock valued at $744,000 after purchasing an additional 19,384 shares during the last quarter. Hedge funds and other institutional investors own 53.95% of the company's stock.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals International news, COO Eben Tessari sold 138,614 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $33.20, for a total value of $4,601,984.80. Following the completion of the transaction, the chief operating officer directly owned 49,915 shares in the company, valued at $1,657,178. This represents a 73.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Michael R. Megna sold 17,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $32.35, for a total value of $549,950.00. Following the completion of the transaction, the chief accounting officer owned 33,041 shares of the company's stock, valued at $1,068,876.35. The trade was a 33.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 596,839 shares of company stock worth $20,357,964 over the last ninety days. 53.48% of the stock is owned by company insiders.

Kiniksa Pharmaceuticals International Trading Down 0.7%

Kiniksa Pharmaceuticals International stock opened at $38.64 on Friday. Kiniksa Pharmaceuticals International, plc has a 12-month low of $17.82 and a 12-month high of $39.43. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 966.24 and a beta of 0.16. The firm has a 50 day moving average of $35.85 and a 200 day moving average of $29.71.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Kiniksa Pharmaceuticals International had a return on equity of 1.05% and a net margin of 0.90%.The business had revenue of $156.80 million during the quarter, compared to the consensus estimate of $145.21 million. Kiniksa Pharmaceuticals International has set its FY 2025 guidance at EPS. On average, analysts predict that Kiniksa Pharmaceuticals International, plc will post -0.55 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on KNSA. Wall Street Zen lowered shares of Kiniksa Pharmaceuticals International from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 3rd. Jefferies Financial Group upped their price target on shares of Kiniksa Pharmaceuticals International from $45.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Wells Fargo & Company upped their price target on shares of Kiniksa Pharmaceuticals International from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, September 25th. Wedbush boosted their price objective on Kiniksa Pharmaceuticals International from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Monday, October 13th. Finally, TD Cowen initiated coverage on shares of Kiniksa Pharmaceuticals International in a report on Monday, September 29th. They issued a "buy" rating and a $60.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.86.

Kiniksa Pharmaceuticals International 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.

Want to see what other hedge funds are holding KNSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.