Pictet Asset Management Holding SA Trims Stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Pictet Asset Management Holding SA trimmed its holdings in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,133,931 shares of the company's stock after selling 73,818 shares during the period. Pictet Asset Management Holding SA owned about 1.57% of Kiniksa Pharmaceuticals worth $22,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Kiniksa Pharmaceuticals by 36,925.0% in the 3rd quarter. FMR LLC now owns 696,810 shares of the company's stock worth $17,413,000 after acquiring an additional 694,928 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Kiniksa Pharmaceuticals by 1,064.4% in the third quarter. Jane Street Group LLC now owns 345,092 shares of the company's stock valued at $8,624,000 after purchasing an additional 315,456 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Kiniksa Pharmaceuticals by 138.9% in the fourth quarter. JPMorgan Chase & Co. now owns 477,800 shares of the company's stock valued at $9,451,000 after purchasing an additional 277,827 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kiniksa Pharmaceuticals during the fourth quarter valued at approximately $3,955,000. Finally, Castleark Management LLC bought a new stake in Kiniksa Pharmaceuticals during the third quarter worth $4,178,000. 53.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup began coverage on Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They set a "buy" rating and a $40.00 price objective on the stock. Wedbush restated an "outperform" rating and set a $34.00 price target on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Kiniksa Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $37.17.

Kiniksa Pharmaceuticals Trading Down 6.4 %

Shares of NASDAQ:KNSA traded down $1.40 during midday trading on Friday, reaching $20.36. The company had a trading volume of 735,527 shares, compared to its average volume of 447,644. Kiniksa Pharmaceuticals, Ltd. has a 52-week low of $16.56 and a 52-week high of $28.15. The company's 50 day moving average price is $21.00 and its 200 day moving average price is $21.86. The stock has a market cap of $1.48 billion, a P/E ratio of -145.42 and a beta of 0.31.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $123.42 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The firm's revenue was up 46.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 earnings per share. Research analysts forecast that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Ragosa sold 8,879 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $23.10, for a total value of $205,104.90. Following the sale, the chief financial officer now owns 23,382 shares of the company's stock, valued at $540,124.20. The trade was a 27.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michael R. Megna sold 9,051 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $22.45, for a total transaction of $203,194.95. Following the completion of the transaction, the chief accounting officer now directly owns 26,528 shares of the company's stock, valued at approximately $595,553.60. This trade represents a 25.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,766 shares of company stock valued at $2,011,735 over the last ninety days. 54.57% of the stock is currently owned by insiders.

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.