Rubric Capital Management LP Acquires 223,094 Shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Rubric Capital Management LP lifted its holdings in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 10.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,419,103 shares of the company’s stock after purchasing an additional 223,094 shares during the quarter. Rubric Capital Management LP owned 3.41% of Kiniksa Pharmaceuticals worth $45,165,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KNSA. Hhlr Advisors LTD. bought a new position in shares of Kiniksa Pharmaceuticals in the first quarter valued at about $61,868,000. Vanguard Group Inc. grew its stake in Kiniksa Pharmaceuticals by 0.6% during the first quarter. Vanguard Group Inc. now owns 2,981,894 shares of the company’s stock worth $58,833,000 after buying an additional 16,595 shares in the last quarter. Granahan Investment Management LLC grew its stake in Kiniksa Pharmaceuticals by 35.2% during the fourth quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock worth $12,671,000 after buying an additional 188,174 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Kiniksa Pharmaceuticals by 31.2% during the second quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock worth $12,398,000 after buying an additional 157,741 shares in the last quarter. Finally, Parkman Healthcare Partners LLC grew its stake in Kiniksa Pharmaceuticals by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company’s stock worth $10,799,000 after buying an additional 105,883 shares in the last quarter. Institutional investors own 53.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KNSA. Jefferies Financial Group began coverage on shares of Kiniksa Pharmaceuticals in a research note on Friday, September 13th. They set a “buy” rating and a $40.00 price objective on the stock. Wedbush raised their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kiniksa Pharmaceuticals has a consensus rating of “Buy” and an average price target of $33.60.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, insider John F. Paolini sold 60,692 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $26.12, for a total transaction of $1,585,275.04. Following the completion of the transaction, the insider now owns 52,038 shares in the company, valued at approximately $1,359,232.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 24,248 shares of Kiniksa Pharmaceuticals stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $24.79, for a total transaction of $601,107.92. Following the transaction, the chief financial officer now directly owns 19,253 shares of the company’s stock, valued at approximately $477,281.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Paolini sold 60,692 shares of Kiniksa Pharmaceuticals stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $26.12, for a total value of $1,585,275.04. Following the sale, the insider now owns 52,038 shares in the company, valued at $1,359,232.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 260,564 shares of company stock worth $6,727,929. 54.57% of the stock is currently owned by insiders.

Kiniksa Pharmaceuticals Price Performance

Shares of NASDAQ KNSA opened at $25.64 on Friday. Kiniksa Pharmaceuticals, Ltd. has a 1 year low of $14.12 and a 1 year high of $27.92. The company has a 50 day simple moving average of $25.20 and a 200 day simple moving average of $21.24. The firm has a market cap of $1.82 billion, a PE ratio of 233.09 and a beta of 0.33.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. Kiniksa Pharmaceuticals had a negative net margin of 3.10% and a negative return on equity of 7.79%. The firm had revenue of $108.30 million during the quarter, compared to analyst estimates of $90.60 million. During the same quarter last year, the business earned ($0.02) EPS. The company’s revenue was up 51.5% compared to the same quarter last year. As a group, research analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.31 earnings per share for the current fiscal year.

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.