Lion Point Capital LP Has $1.96 Million Stock Holdings in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Lion Point Capital LP cut its position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 19.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,691 shares of the company’s stock after selling 26,000 shares during the period. Kiniksa Pharmaceuticals makes up 3.6% of Lion Point Capital LP’s portfolio, making the stock its 6th largest holding. Lion Point Capital LP owned about 0.15% of Kiniksa Pharmaceuticals worth $1,955,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in shares of Kiniksa Pharmaceuticals during the first quarter valued at approximately $71,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Kiniksa Pharmaceuticals during the 2nd quarter worth approximately $100,000. China Universal Asset Management Co. Ltd. boosted its holdings in Kiniksa Pharmaceuticals by 88.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,708 shares of the company’s stock valued at $152,000 after acquiring an additional 3,611 shares during the period. Lynx1 Capital Management LP bought a new position in Kiniksa Pharmaceuticals in the 2nd quarter valued at $177,000. Finally, Arizona State Retirement System bought a new position in Kiniksa Pharmaceuticals in the 2nd quarter valued at $209,000. 53.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KNSA has been the subject of a number of recent analyst reports. 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 target price for the company. Wedbush lifted 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $33.60.

Kiniksa Pharmaceuticals Price Performance

Shares of Kiniksa Pharmaceuticals stock opened at $23.96 on Friday. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 217.84 and a beta of 0.33. The firm’s 50-day moving average is $25.41 and its two-hundred day moving average is $21.33. Kiniksa Pharmaceuticals, Ltd. has a 1 year low of $14.12 and a 1 year high of $27.92.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $108.30 million for the quarter, compared to the consensus estimate of $90.60 million. Kiniksa Pharmaceuticals had a negative net margin of 3.10% and a negative return on equity of 7.79%. The company’s quarterly revenue was up 51.5% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. On average, equities analysts expect that Kiniksa Pharmaceuticals, Ltd. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 136,124 shares of Kiniksa Pharmaceuticals stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $25.65, for a total value of $3,491,580.60. Following the transaction, the chief executive officer now owns 63,012 shares in the company, valued at $1,616,257.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John F. Paolini sold 22,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $26.32, for a total transaction of $579,040.00. Following the completion of the sale, the insider now owns 47,803 shares in the company, valued at approximately $1,258,174.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanj K. Patel sold 136,124 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $25.65, for a total value of $3,491,580.60. Following the transaction, the chief executive officer now directly owns 63,012 shares in the company, valued at $1,616,257.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,064 shares of company stock valued at $7,165,254. 54.57% of the stock is currently owned by corporate 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.