Kiniksa Pharmaceuticals International, plc $KNSA Shares Sold by Penn Capital Management Company LLC

Key Points

• Penn Capital cut its Kiniksa stake by 5.6% in the third quarter, selling 20,450 shares and retaining 347,664 shares worth about $26 million.
• Kiniksa reported quarterly EPS of $0.56, beating the $0.37 consensus, while revenue of $286 million also topped expectations. Shares opened at $98.76, near their 52-week high of $99.31.
• Analysts give the stock a “Moderate Buy” consensus, with an average price target of $100.57. Company insiders sold 831,022 shares over the past 90 days, with the disclosed sales made under pre-arranged trading plans.

Penn Capital Management Company LLC lowered its position in Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA - Free Report) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,664 shares of the company's stock after selling 20,450 shares during the quarter. Kiniksa Pharmaceuticals International makes up approximately 1.9% of Penn Capital Management Company LLC's portfolio, making the stock its 4th biggest position. Penn Capital Management Company LLC owned approximately 0.45% of Kiniksa Pharmaceuticals International worth $25,967,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KNSA. Rubric Capital Management LP grew its position in Kiniksa Pharmaceuticals International by 12.7% during the 1st quarter. Rubric Capital Management LP now owns 3,750,000 shares of the company's stock worth $180,562,000 after purchasing an additional 421,347 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Kiniksa Pharmaceuticals International by 41.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 860,228 shares of the company's stock valued at $64,182,000 after acquiring an additional 251,578 shares during the period. Dimensional Fund Advisors LP increased its position in Kiniksa Pharmaceuticals International by 18.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 811,922 shares of the company's stock valued at $39,086,000 after acquiring an additional 128,417 shares during the period. Spruce Street Capital LP increased its position in Kiniksa Pharmaceuticals International by 75.0% in the 1st quarter. Spruce Street Capital LP now owns 761,063 shares of the company's stock valued at $36,645,000 after acquiring an additional 326,081 shares during the period. Finally, Bank of America Corp DE raised its stake in Kiniksa Pharmaceuticals International by 220.9% during the 1st quarter. Bank of America Corp DE now owns 735,940 shares of the company's stock valued at $35,436,000 after acquiring an additional 506,576 shares during the last quarter. 53.95% of the stock is currently owned by hedge funds and other institutional investors.

Kiniksa Pharmaceuticals International Stock Up 5.2%

NASDAQ:KNSA opened at $98.76 on Tuesday. Kiniksa Pharmaceuticals International, plc has a fifty-two week low of $37.02 and a fifty-two week high of $99.31. The stock has a market cap of $7.71 billion, a PE ratio of 75.97 and a beta of 0.07. The firm's fifty day simple moving average is $80.87 and its 200-day simple moving average is $61.65.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.37 by $0.19. The firm had revenue of $285.97 million during the quarter, compared to analysts' expectations of $260.66 million. Kiniksa Pharmaceuticals International had a net margin of 11.58% and a return on equity of 17.27%. Equities analysts anticipate that Kiniksa Pharmaceuticals International, plc will post 1.30 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wedbush increased their price objective on Kiniksa Pharmaceuticals International from $99.00 to $102.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. upped their price target on Kiniksa Pharmaceuticals International from $107.00 to $122.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. The Goldman Sachs Group increased their price target on Kiniksa Pharmaceuticals International from $90.00 to $101.00 and gave the stock a "buy" rating in a report on Wednesday, October 28th. Zacks Research downgraded Kiniksa Pharmaceuticals International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. Finally, Citigroup lifted their price objective on shares of Kiniksa Pharmaceuticals International from $60.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $100.57.

Insider Buying and Selling

In other news, CEO Sanj Patel sold 220,170 shares of Kiniksa Pharmaceuticals International stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $93.27, for a total transaction of $20,535,255.90. Following the completion of the sale, the chief executive officer directly owned 780,037 shares in the company, valued at approximately $72,754,050.99. This trade represents a 22.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Paolini sold 77,587 shares of Kiniksa Pharmaceuticals International stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $93.02, for a total transaction of $7,217,142.74. Following the sale, the insider owned 69,922 shares of the company's stock, valued at approximately $6,504,144.44. The trade was a 52.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 831,022 shares of company stock valued at $77,475,599 in the last 90 days. 51.98% of the stock is owned by corporate insiders.

About Kiniksa Pharmaceuticals International

Kiniksa Pharmaceuticals International plc is a biopharmaceutical company focused on developing and commercializing treatments for patients with autoimmune and inflammatory diseases. The company was established in 2015 and has operations in the United States and internationally.

Kiniksa's marketed medicine, Arcalyst (rilonacept), is approved in the United States to treat recurrent pericarditis and reduce the risk of recurrence in adults and certain pediatric patients. It is also approved for cryopyrin-associated periodic syndromes, a group of rare autoinflammatory conditions.

The company also develops investigational therapies for inflammatory and immune-mediated conditions, including treatments that target pathways involved in immune-cell activity.

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