The Manufacturers Life Insurance Company Buys New Holdings in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

The Manufacturers Life Insurance Company bought a new stake in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,175 shares of the company’s stock, valued at approximately $354,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KNSA. CWM LLC raised its stake in Kiniksa Pharmaceuticals by 443.0% during the 3rd quarter. CWM LLC now owns 2,449 shares of the company’s stock valued at $61,000 after purchasing an additional 1,998 shares during the period. nVerses Capital LLC bought a new stake in Kiniksa Pharmaceuticals in the 3rd quarter worth approximately $80,000. Ashton Thomas Private Wealth LLC bought a new stake in Kiniksa Pharmaceuticals in the 2nd quarter worth approximately $100,000. Lynx1 Capital Management LP bought a new stake in Kiniksa Pharmaceuticals in the 2nd quarter worth approximately $177,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Kiniksa Pharmaceuticals by 65.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,810 shares of the company’s stock worth $195,000 after acquiring an additional 3,076 shares during the last quarter. Institutional investors own 53.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KNSA shares. JPMorgan Chase & Co. boosted their target price on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Evercore ISI boosted their price target on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group started coverage on Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $36.60.

Insiders Place Their Bets

In other news, CFO Mark Ragosa sold 8,969 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $21.45, for a total value of $192,385.05. Following the transaction, the chief financial officer now owns 22,958 shares in the company, valued at $492,449.10. This trade represents a 28.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Eben Tessari sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $24.99, for a total value of $437,325.00. Following the completion of the transaction, the chief operating officer now owns 116,975 shares in the company, valued at approximately $2,923,205.25. This trade represents a 13.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,592 shares of company stock worth $1,110,364. 54.57% of the stock is owned by corporate insiders.

Kiniksa Pharmaceuticals Stock Performance

Shares of KNSA stock opened at $20.20 on Monday. The stock’s 50-day simple moving average is $23.25 and its 200-day simple moving average is $23.10. The firm has a market capitalization of $1.46 billion, a PE ratio of -144.29 and a beta of 0.27. Kiniksa Pharmaceuticals, Ltd. has a fifty-two week low of $16.56 and a fifty-two week high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). The business had revenue of $112.21 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.20) EPS. Sell-side analysts forecast that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current 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.