Kiniksa Pharmaceuticals (NASDAQ:KNSA) Trading Down 5.4% – Here’s Why

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)’s stock price traded down 5.4% during trading on Tuesday . The company traded as low as $18.42 and last traded at $18.54. 25,334 shares were traded during mid-day trading, a decline of 96% from the average session volume of 581,491 shares. The stock had previously closed at $19.60.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KNSA shares. Wedbush restated an “outperform” rating and set a $34.00 price target on shares of Kiniksa Pharmaceuticals in a report on Monday, January 13th. Evercore ISI increased their price target on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $36.60.

Kiniksa Pharmaceuticals Stock Performance

The firm has a market cap of $1.41 billion, a P/E ratio of -139.28 and a beta of 0.32. The stock’s 50 day simple moving average is $19.95 and its 200 day simple moving average is $23.03.

Insider Buying and Selling at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 8,969 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 22,958 shares of the company’s stock, valued at approximately $492,449.10. This represents a 28.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Eben Tessari sold 14,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $18.24, for a total value of $255,360.00. Following the transaction, the chief operating officer now directly owns 88,975 shares of the company’s stock, valued at approximately $1,622,904. This trade represents a 13.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,092 shares of company stock worth $471,609. Insiders own 54.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its stake in Kiniksa Pharmaceuticals by 7.1% in the fourth quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company’s stock valued at $215,000 after purchasing an additional 719 shares in the last quarter. Globeflex Capital L P raised its stake in shares of Kiniksa Pharmaceuticals by 217.1% during the fourth quarter. Globeflex Capital L P now owns 88,596 shares of the company’s stock worth $1,752,000 after acquiring an additional 60,656 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Kiniksa Pharmaceuticals in the fourth quarter worth approximately $3,955,000. Charles Schwab Investment Management Inc. increased its stake in shares of Kiniksa Pharmaceuticals by 36.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 122,019 shares of the company’s stock worth $2,414,000 after buying an additional 32,393 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Kiniksa Pharmaceuticals by 33.1% during the 4th quarter. Bank of New York Mellon Corp now owns 122,051 shares of the company’s stock valued at $2,414,000 after buying an additional 30,382 shares during the last quarter. 53.95% of the stock is owned by institutional investors.

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.