Principal Financial Group Inc. Sells 14,100 Shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Principal Financial Group Inc. lessened its holdings in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 21.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,851 shares of the company’s stock after selling 14,100 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of Kiniksa Pharmaceuticals worth $1,321,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Braidwell LP raised its holdings in shares of Kiniksa Pharmaceuticals by 40.6% during the 3rd quarter. Braidwell LP now owns 2,894,513 shares of the company’s stock valued at $72,334,000 after purchasing an additional 836,210 shares in the last quarter. Rubric Capital Management LP increased its position in Kiniksa Pharmaceuticals by 10.2% during the second quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company’s stock worth $45,165,000 after buying an additional 223,094 shares during the last quarter. Parkman Healthcare Partners LLC raised its holdings in Kiniksa Pharmaceuticals by 16.7% during the third quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company’s stock valued at $18,874,000 after buying an additional 108,102 shares in the last quarter. FMR LLC lifted its position in shares of Kiniksa Pharmaceuticals by 36,925.0% in the third quarter. FMR LLC now owns 696,810 shares of the company’s stock worth $17,413,000 after buying an additional 694,928 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Kiniksa Pharmaceuticals by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock worth $12,398,000 after acquiring an additional 157,741 shares in the last quarter. 53.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KNSA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on shares of Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Evercore ISI upped their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $36.60.

Insider Buying and Selling

In other news, CFO Mark Ragosa sold 8,969 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $21.45, for a total transaction of $192,385.05. Following the sale, the chief financial officer now owns 22,958 shares of the company’s stock, valued at approximately $492,449.10. This trade represents a 28.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eben Tessari sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.87, for a total value of $456,790.00. Following the sale, the chief operating officer now owns 109,975 shares in the company, valued at approximately $2,955,028.25. This represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,092 shares of company stock valued at $673,039 over the last three months. 54.57% of the stock is owned by corporate insiders.

Kiniksa Pharmaceuticals Trading Up 1.9 %

KNSA opened at $20.31 on Friday. Kiniksa Pharmaceuticals, Ltd. has a 1-year low of $16.56 and a 1-year high of $28.15. The business has a 50 day moving average of $21.44 and a 200-day moving average of $23.19. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -145.06 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.17). The company had revenue of $112.21 million during the quarter, compared to analyst estimates of $111.51 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The business’s revenue for the quarter was up 67.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Equities analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

Kiniksa Pharmaceuticals 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.