Pictet Asset Management Holding SA Sells 164,232 Shares of Kiniksa Pharmaceuticals International, plc $KNSA

Key Points

• Pictet Asset Management cut its Kiniksa Pharmaceuticals stake by 20.9% in Q1, selling 164,232 shares and leaving it with 623,288 shares valued at about $30.0 million.
• Analyst sentiment remains mostly positive: Jefferies, Citi, and Canaccord all raised price targets, while the consensus rating is a Buy with an average target price of $62.71.
• Kiniksa’s recent results were strong, with Q1 EPS of $0.27 beating estimates and revenue of $214.27 million rising 55.5% year over year; the stock was trading near its 12-month high at $63.95.

Pictet Asset Management Holding SA trimmed its stake in shares of Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA - Free Report) by 20.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 623,288 shares of the company's stock after selling 164,232 shares during the period. Pictet Asset Management Holding SA owned approximately 0.81% of Kiniksa Pharmaceuticals International worth $30,011,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KNSA. Rubric Capital Management LP grew its position in shares of Kiniksa Pharmaceuticals International by 2.3% during the 3rd quarter. Rubric Capital Management LP now owns 4,000,000 shares of the company's stock worth $155,320,000 after buying an additional 90,194 shares during the period. Vanguard Group Inc. lifted its holdings in Kiniksa Pharmaceuticals International by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 3,112,937 shares of the company's stock valued at $128,409,000 after buying an additional 49,802 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Kiniksa Pharmaceuticals International by 45.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,068,263 shares of the company's stock valued at $41,481,000 after buying an additional 332,846 shares during the period. Qube Research & Technologies Ltd boosted its stake in Kiniksa Pharmaceuticals International by 277.8% in the second quarter. Qube Research & Technologies Ltd now owns 888,364 shares of the company's stock valued at $24,581,000 after acquiring an additional 653,236 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Kiniksa Pharmaceuticals International by 8.7% in the first quarter. Millennium Management LLC now owns 847,124 shares of the company's stock valued at $18,815,000 after acquiring an additional 67,452 shares during the last quarter. 53.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Kiniksa Pharmaceuticals International from $58.00 to $71.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Weiss Ratings lowered Kiniksa Pharmaceuticals International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 23rd. Zacks Research raised Kiniksa Pharmaceuticals International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 17th. Citigroup raised their target price on Kiniksa Pharmaceuticals International from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Canaccord Genuity Group boosted their target price on Kiniksa Pharmaceuticals International from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Kiniksa Pharmaceuticals International currently has an average rating of "Buy" and an average target price of $62.71.

Insider Buying and Selling at Kiniksa Pharmaceuticals International

In other Kiniksa Pharmaceuticals International news, COO Ross Moat sold 2,367 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $48.58, for a total transaction of $114,988.86. Following the sale, the chief operating officer directly owned 12,029 shares in the company, valued at approximately $584,368.82. This trade represents a 16.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanj K. Patel sold 483,654 shares of Kiniksa Pharmaceuticals International stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $51.86, for a total transaction of $25,082,296.44. Following the completion of the transaction, the chief executive officer directly owned 431,904 shares in the company, valued at approximately $22,398,541.44. The trade was a 52.83% decrease in their position. 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 have sold a total of 653,301 shares of company stock worth $34,046,073 over the last three months. Company insiders own 51.98% of the company's stock.

Kiniksa Pharmaceuticals International Stock Up 2.5%

Shares of KNSA stock opened at $63.95 on Wednesday. Kiniksa Pharmaceuticals International, plc has a 12-month low of $26.27 and a 12-month high of $64.81. The firm has a fifty day moving average of $52.89 and a 200-day moving average of $47.30. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 71.06 and a beta of 0.12.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.09. Kiniksa Pharmaceuticals International had a return on equity of 13.26% and a net margin of 9.69%.The firm had revenue of $214.27 million during the quarter, compared to analysts' expectations of $206.11 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The company's revenue was up 55.5% on a year-over-year basis. Research analysts expect that Kiniksa Pharmaceuticals International, plc will post 1.25 earnings per share for the current year.

Kiniksa Pharmaceuticals International Profile

Kiniksa Pharmaceuticals International, Inc is a biopharmaceutical company focused on discovering, acquiring and developing therapeutics for patients suffering from lifethreatening and debilitating immune-mediated diseases. Founded in 2013 and headquartered in Lexington, Massachusetts, Kiniksa applies a patient-centric approach to build a diversified portfolio of marketed medicines and clinical-stage candidates targeting inflammation and immunology. The company's core mission is to address complex conditions with significant unmet medical needs by advancing both novel and differentiated therapies.

The company's lead marketed product is Ilaris (canakinumab), an interleukin-1β blocker licensed for the treatment of cryopyrin-associated periodic syndromes, systemic juvenile idiopathic arthritis, adult-onset Still's disease and Schnitzler syndrome.

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