Sanj K. Patel Sells 19,317 Shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Stock

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Get Free Report) CEO Sanj K. Patel sold 19,317 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $27.01, for a total transaction of $521,752.17. Following the completion of the sale, the chief executive officer now owns 96,674 shares of the company's stock, valued at $2,611,164.74. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kiniksa Pharmaceuticals Stock Up 0.9%

Shares of KNSA traded up $0.25 during mid-day trading on Friday, hitting $27.43. 543,644 shares of the company's stock were exchanged, compared to its average volume of 492,782. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $17.38 and a 52 week high of $28.56. The stock's 50-day simple moving average is $23.62 and its 200-day simple moving average is $21.64. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -195.91 and a beta of 0.07.

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

Analyst Upgrades and Downgrades

KNSA has been the subject of several research reports. Citigroup initiated coverage on shares of Kiniksa Pharmaceuticals in a research report on Thursday, March 13th. They set a "buy" rating and a $40.00 price objective for the company. Jefferies Financial Group raised their price objective on shares of Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Wedbush restated an "outperform" rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a research report on Wednesday, April 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $38.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in shares of Kiniksa Pharmaceuticals by 6.4% during the first quarter. Rhumbline Advisers now owns 62,700 shares of the company's stock worth $1,393,000 after purchasing an additional 3,745 shares during the period. Strs Ohio bought a new position in Kiniksa Pharmaceuticals in the first quarter valued at approximately $595,000. Acadian Asset Management LLC increased its stake in Kiniksa Pharmaceuticals by 170.3% in the first quarter. Acadian Asset Management LLC now owns 1,034,321 shares of the company's stock valued at $22,961,000 after acquiring an additional 651,700 shares during the last quarter. Fred Alger Management LLC bought a new position in Kiniksa Pharmaceuticals in the first quarter valued at approximately $485,000. Finally, Millennium Management LLC increased its stake in Kiniksa Pharmaceuticals 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.

About Kiniksa Pharmaceuticals

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.