Kiniksa Pharmaceuticals (NASDAQ:KNSA) Stock Price Down 5.4% Following Insider Selling

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Get Free Report) was down 5.4% during trading on Thursday after an insider sold shares in the company. The company traded as low as $28.44 and last traded at $28.60. Approximately 434,756 shares changed hands during trading, a decline of 14% from the average daily volume of 508,421 shares. The stock had previously closed at $30.22.

Specifically, COO Eben Tessari sold 45,042 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $30.51, for a total transaction of $1,374,231.42. Following the completion of the sale, the chief operating officer now owns 72,363 shares in the company, valued at approximately $2,207,795.13. The trade was a 38.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Eben Tessari sold 10,319 shares of Kiniksa Pharmaceuticals stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.38, for a total transaction of $313,491.22. Following the sale, the chief operating officer now owns 72,363 shares in the company, valued at $2,198,387.94. This represents a 12.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 15,506 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $30.46, for a total value of $472,312.76. Following the completion of the transaction, the chief operating officer now owns 72,363 shares in the company, valued at $2,204,176.98. This represents a 17.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group lifted their price target on Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen raised shares of Kiniksa Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup started coverage on shares of Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They set a "buy" rating and a $40.00 price target for the company. Finally, Wedbush reissued an "outperform" rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a research report on Wednesday, April 16th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $38.80.

Kiniksa Pharmaceuticals Stock Up 2.1%

The stock has a fifty day moving average price of $25.12 and a 200-day moving average price of $22.17. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -202.13 and a beta of 0.06.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company posted ($0.25) EPS. Kiniksa Pharmaceuticals's revenue was up 72.5% compared to the same quarter last year. As a group, research analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Corebridge Financial Inc. raised its stake in shares of Kiniksa Pharmaceuticals by 3.6% during the 1st quarter. Corebridge Financial Inc. now owns 15,979 shares of the company's stock worth $355,000 after buying an additional 549 shares in the last quarter. GAMMA Investing LLC grew its holdings in Kiniksa Pharmaceuticals by 84.8% during the first quarter. GAMMA Investing LLC now owns 1,238 shares of the company's stock worth $27,000 after acquiring an additional 568 shares during the period. Sound View Wealth Advisors Group LLC raised its position in Kiniksa Pharmaceuticals by 4.0% in the first quarter. Sound View Wealth Advisors Group LLC now owns 14,657 shares of the company's stock worth $326,000 after acquiring an additional 568 shares in the last quarter. Martingale Asset Management L P lifted its holdings in Kiniksa Pharmaceuticals by 1.3% in the first quarter. Martingale Asset Management L P now owns 50,000 shares of the company's stock valued at $1,111,000 after acquiring an additional 640 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in Kiniksa Pharmaceuticals by 7.1% in the fourth quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company's stock valued at $215,000 after acquiring an additional 719 shares during the period. 53.95% of the stock is owned by hedge funds and other 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.