Rubric Capital Management LP Acquires 421,347 Shares of Kiniksa Pharmaceuticals International, plc $KNSA

Key Points

• Rubric Capital Management increased its Kiniksa Pharmaceuticals stake by 12.7% to 3.75 million shares, worth approximately $180.6 million and representing 4.87% of the company.
• Kiniksa reported stronger-than-expected quarterly results, with EPS of $0.27 versus the $0.18 consensus estimate and revenue of $214.27 million, up 55.5% year over year.
• KNSA shares opened at $63.53, near their 52-week high, while analysts maintained an overall “Buy” rating with an average price target of $68.00; however, company insiders sold $7.1 million of stock over the past three months.

Rubric Capital Management LP boosted its holdings in Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,750,000 shares of the company's stock after acquiring an additional 421,347 shares during the quarter. Kiniksa Pharmaceuticals International accounts for approximately 1.9% of Rubric Capital Management LP's investment portfolio, making the stock its 12th biggest holding. Rubric Capital Management LP owned 4.87% of Kiniksa Pharmaceuticals International worth $180,562,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KNSA. Amundi purchased a new stake in shares of Kiniksa Pharmaceuticals International in the first quarter worth approximately $348,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Kiniksa Pharmaceuticals International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,843 shares of the company's stock valued at $507,000 after buying an additional 1,002 shares during the last quarter. Millennium Management LLC grew its holdings in Kiniksa Pharmaceuticals International by 8.7% during the first quarter. Millennium Management LLC now owns 847,124 shares of the company's stock worth $18,815,000 after buying an additional 67,452 shares in the last quarter. Creative Planning bought a new stake in Kiniksa Pharmaceuticals International during the second quarter worth $358,000. Finally, Quantbot Technologies LP purchased a new stake in Kiniksa Pharmaceuticals International in the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 53.95% of the company's stock.

Insider Transactions at Kiniksa Pharmaceuticals International

In other Kiniksa Pharmaceuticals International news, insider John F. Paolini sold 58,424 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $53.71, for a total value of $3,137,953.04. Following the transaction, the insider directly owned 65,623 shares in the company, valued at $3,524,611.33. The trade was a 47.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanj K. Patel sold 48,565 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $54.02, for a total transaction of $2,623,481.30. Following the transaction, the chief executive officer directly owned 48,565 shares of the company's stock, valued at $2,623,481.30. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 131,674 shares of company stock worth $7,094,671 over the last three months. 51.98% of the stock is owned by insiders.

Kiniksa Pharmaceuticals International Trading Up 1.1%

KNSA stock opened at $63.53 on Tuesday. The stock's fifty day simple moving average is $57.07 and its two-hundred day simple moving average is $50.18. Kiniksa Pharmaceuticals International, plc has a 1-year low of $26.51 and a 1-year high of $67.53. The stock has a market cap of $4.89 billion, a P/E ratio of 70.59 and a beta of 0.07.

Kiniksa Pharmaceuticals International (NASDAQ:KNSA - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $214.27 million during the quarter, compared to the consensus estimate of $206.11 million. Kiniksa Pharmaceuticals International had a return on equity of 13.26% and a net margin of 9.69%.The business's revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, analysts forecast that Kiniksa Pharmaceuticals International, plc will post 1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KNSA. Wall Street Zen cut Kiniksa Pharmaceuticals International from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 12th. Weiss Ratings lowered shares of Kiniksa Pharmaceuticals International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group raised their price target on shares of Kiniksa Pharmaceuticals International from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Kiniksa Pharmaceuticals International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 17th. Finally, Wedbush upped their price objective on shares of Kiniksa Pharmaceuticals International from $59.00 to $72.00 and gave the stock an "outperform" rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $68.00.

Kiniksa Pharmaceuticals International Company 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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