Balyasny Asset Management L.P. Purchases New Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Balyasny Asset Management L.P. purchased a new stake in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,921 shares of the company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KNSA. Franklin Resources Inc. boosted its holdings in Kiniksa Pharmaceuticals by 1.7% in the third quarter. Franklin Resources Inc. now owns 67,533 shares of the company’s stock worth $1,798,000 after purchasing an additional 1,100 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Kiniksa Pharmaceuticals during the 4th quarter worth $355,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Kiniksa Pharmaceuticals by 12.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,814 shares of the company’s stock worth $174,000 after acquiring an additional 1,004 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 1.8% during the 4th quarter. Peregrine Capital Management LLC now owns 244,043 shares of the company’s stock worth $4,827,000 after acquiring an additional 4,361 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Kiniksa Pharmaceuticals by 12.4% during the 4th quarter. New York State Common Retirement Fund now owns 15,248 shares of the company’s stock worth $302,000 after acquiring an additional 1,680 shares during the last quarter. Institutional investors own 53.95% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ross Moat sold 18,259 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $20.29, for a total value of $370,475.11. Following the sale, the insider now directly owns 9,415 shares in the company, valued at $191,030.35. The trade was a 65.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Eben Tessari sold 12,000 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $20.48, for a total transaction of $245,760.00. Following the completion of the sale, the chief operating officer now owns 77,363 shares in the company, valued at approximately $1,584,394.24. This trade represents a 13.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 231,640 shares of company stock worth $5,669,136 in the last 90 days. 54.57% of the stock is currently owned by corporate insiders.

Kiniksa Pharmaceuticals Stock Up 1.5%

Shares of KNSA stock opened at $26.25 on Friday. The stock has a market cap of $1.92 billion, a P/E ratio of -187.49 and a beta of 0.07. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $17.38 and a 52 week high of $28.56. The company’s fifty day simple moving average is $22.86 and its two-hundred day simple moving average is $21.35.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.02 by $0.09. The business had revenue of $137.79 million for the quarter, compared to analysts’ expectations of $128.35 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The business’s quarterly revenue was up 72.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.25) EPS. On average, analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $34.00 target price on shares of Kiniksa Pharmaceuticals in a research note on Wednesday, April 16th. Citigroup assumed coverage on shares of Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Jefferies Financial Group lifted their target price on shares of Kiniksa Pharmaceuticals from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.80.

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.