Quarry LP Takes $50,000 Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Quarry LP bought a new stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $50,000.

A number of other institutional investors have also modified their holdings of the stock. Braidwell LP increased its holdings in shares of Kiniksa Pharmaceuticals by 40.6% in the third quarter. Braidwell LP now owns 2,894,513 shares of the company’s stock valued at $72,334,000 after purchasing an additional 836,210 shares during the period. Rubric Capital Management LP increased its holdings in shares of Kiniksa Pharmaceuticals by 10.2% in the second quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company’s stock valued at $45,165,000 after purchasing an additional 223,094 shares during the period. Parkman Healthcare Partners LLC increased its holdings in shares of Kiniksa Pharmaceuticals by 16.7% in the third quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company’s stock valued at $18,874,000 after purchasing an additional 108,102 shares during the period. FMR LLC increased its holdings in shares of Kiniksa Pharmaceuticals by 36,925.0% in the third quarter. FMR LLC now owns 696,810 shares of the company’s stock valued at $17,413,000 after purchasing an additional 694,928 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Kiniksa Pharmaceuticals by 31.2% in the second quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock valued at $12,398,000 after purchasing an additional 157,741 shares during the period. Institutional investors and hedge funds own 53.95% of the company’s stock.

Kiniksa Pharmaceuticals Stock Performance

KNSA opened at $21.41 on Wednesday. The business’s fifty day moving average is $23.49 and its two-hundred day moving average is $23.07. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -152.93 and a beta of 0.27. Kiniksa Pharmaceuticals, Ltd. has a one year low of $16.56 and a one year high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last posted its earnings results on Tuesday, October 29th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). The firm 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 firm’s revenue for the quarter was up 67.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. On average, analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Ragosa sold 8,969 shares of the company’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 in the company, valued at $492,449.10. This represents a 28.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eben Tessari sold 17,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.87, for a total value of $456,790.00. Following the completion of the sale, the chief operating officer now owns 109,975 shares in the company, valued at $2,955,028.25. This represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,592 shares of company stock worth $1,110,364. 54.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KNSA. Jefferies Financial Group began coverage on Kiniksa Pharmaceuticals in a research note on Friday, September 13th. They issued a “buy” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI lifted their price target on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kiniksa Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $36.60.

Kiniksa Pharmaceuticals 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.