Verition Fund Management LLC Purchases New Holdings in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Verition Fund Management LLC purchased a new stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,784 shares of the company’s stock, valued at approximately $669,000.

Several other institutional investors have also made changes to their positions in the stock. CWM LLC lifted its stake in Kiniksa Pharmaceuticals by 443.0% during the third quarter. CWM LLC now owns 2,449 shares of the company’s stock worth $61,000 after purchasing an additional 1,998 shares during the last quarter. nVerses Capital LLC bought a new stake in Kiniksa Pharmaceuticals during the third quarter worth $80,000. Ashton Thomas Private Wealth LLC bought a new stake in Kiniksa Pharmaceuticals during the second quarter worth $100,000. Lynx1 Capital Management LP bought a new stake in Kiniksa Pharmaceuticals during the second quarter worth $177,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Kiniksa Pharmaceuticals during the third quarter worth $189,000. 53.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KNSA has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of Kiniksa Pharmaceuticals in a report on Friday, September 13th. They set a “buy” rating and a $40.00 price target for the company. Finally, Evercore ISI upped their price target 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 analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $36.60.

Kiniksa Pharmaceuticals Stock Performance

Shares of NASDAQ:KNSA opened at $21.41 on Wednesday. The company has a fifty day moving average of $23.49 and a 200-day moving average of $23.07. The company has a market capitalization of $1.55 billion, a PE ratio of -152.93 and a beta of 0.27. Kiniksa Pharmaceuticals, Ltd. has a 52-week low of $16.56 and a 52-week high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 2.36% and a negative return on equity of 7.31%. The business’s revenue for the quarter was up 67.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.20) earnings per share. On average, equities analysts forecast that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

Insider Activity at Kiniksa Pharmaceuticals

In related 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 value of $192,385.05. Following the completion of the sale, the chief financial officer now directly owns 22,958 shares in the company, valued at $492,449.10. This represents a 28.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Eben Tessari sold 17,500 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $24.99, for a total transaction of $437,325.00. Following the sale, the chief operating officer now directly owns 116,975 shares in the company, valued at $2,923,205.25. This trade represents a 13.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,592 shares of company stock worth $1,110,364 over the last three months. Company insiders own 54.57% of the company’s stock.

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.