Sanj K. Patel Sells 62,116 Shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Stock

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Get Free Report) CEO Sanj K. Patel sold 62,116 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $27.33, for a total value of $1,697,630.28. Following the completion of the transaction, the chief executive officer now directly owns 96,674 shares in the company, valued at $2,642,100.42. This represents a 39.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Kiniksa Pharmaceuticals Stock Performance

Kiniksa Pharmaceuticals stock traded up $0.25 during midday trading on Friday, hitting $27.43. 543,644 shares of the company were exchanged, compared to its average volume of 492,782. The firm has a market capitalization of $2.00 billion, a PE ratio of -195.91 and a beta of 0.07. Kiniksa Pharmaceuticals, Ltd. has a fifty-two week low of $17.38 and a fifty-two week high of $28.56. The business has a fifty day simple moving average of $23.62 and a two-hundred day simple moving average of $21.64.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last posted 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. The firm had revenue of $137.79 million for the quarter, compared to analyst estimates of $128.35 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. Kiniksa Pharmaceuticals's revenue for the quarter was up 72.5% compared to the same quarter last year. During the same period last year, the company earned ($0.25) earnings per share. As a group, equities analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KNSA. Citigroup began coverage on Kiniksa Pharmaceuticals in a report on Thursday, March 13th. They issued a "buy" rating and a $40.00 price objective on the stock. Jefferies Financial Group increased their price objective on Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Wedbush reissued an "outperform" rating and issued a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Wednesday, April 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $38.80.

Institutional Trading of Kiniksa Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position 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 purchasing an additional 568 shares in the last quarter. US Bancorp DE purchased a new position in Kiniksa Pharmaceuticals during the first quarter worth approximately $33,000. Asset Management One Co. Ltd. purchased a new position in Kiniksa Pharmaceuticals during the first quarter worth approximately $41,000. Wealthquest Corp purchased a new position in Kiniksa Pharmaceuticals during the first quarter worth approximately $42,000. Finally, Lazard Asset Management LLC purchased a new position in Kiniksa Pharmaceuticals during the fourth quarter worth approximately $61,000. 53.95% of the stock is owned by institutional investors and hedge funds.

Kiniksa Pharmaceuticals Company Profile

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.