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

Shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) fell 5.4% on Tuesday . The company traded as low as $18.42 and last traded at $18.54. 25,334 shares traded hands 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.

Wall Street Analyst Weigh In

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

Kiniksa Pharmaceuticals Stock Down 0.5 %

The company has a market capitalization of $1.41 billion, a P/E ratio of -139.28 and a beta of 0.32. The company has a 50-day moving average of $19.95 and a two-hundred day moving average of $23.03.

Insider Activity at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 8,969 shares of the business’s 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 sale, the chief financial officer now directly owns 22,958 shares of the company’s stock, valued at approximately $492,449.10. The trade was a 28.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Eben Tessari sold 14,000 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $18.24, for a total value of $255,360.00. Following the completion of the sale, the chief operating officer now directly owns 88,975 shares in the company, valued at $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. Insiders have sold 24,092 shares of company stock worth $471,609 over the last ninety days. 54.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its stake in shares of Kiniksa Pharmaceuticals by 7.1% in the fourth quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company’s stock worth $215,000 after purchasing an additional 719 shares during the last quarter. Globeflex Capital L P raised its stake in shares of Kiniksa Pharmaceuticals by 217.1% in the fourth quarter. Globeflex Capital L P now owns 88,596 shares of the company’s stock worth $1,752,000 after purchasing an additional 60,656 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kiniksa Pharmaceuticals in the fourth quarter worth $3,955,000. Charles Schwab Investment Management Inc. raised 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 purchasing an additional 32,393 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Kiniksa Pharmaceuticals by 33.1% in the fourth quarter. Bank of New York Mellon Corp now owns 122,051 shares of the company’s stock worth $2,414,000 after purchasing 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.