Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Short Interest Update

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 3,260,000 shares, a decline of 18.9% from the November 30th total of 4,020,000 shares. Based on an average daily volume of 311,200 shares, the short-interest ratio is currently 10.5 days.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CFO Mark Ragosa sold 8,969 shares of Kiniksa Pharmaceuticals stock in a transaction dated 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 owns 22,958 shares of the company’s stock, valued at approximately $492,449.10. This trade represents a 28.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Eben Tessari sold 17,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.87, for a total transaction 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 quarter, insiders have sold 27,092 shares of company stock valued at $673,039. Insiders own 54.57% of the company’s stock.

Institutional Investors Weigh In On Kiniksa Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in KNSA. Braidwell LP raised its holdings in shares of Kiniksa Pharmaceuticals by 40.6% during the third quarter. Braidwell LP now owns 2,894,513 shares of the company’s stock valued at $72,334,000 after acquiring an additional 836,210 shares in the last quarter. FMR LLC raised its holdings in Kiniksa Pharmaceuticals by 36,925.0% in the 3rd quarter. FMR LLC now owns 696,810 shares of the company’s stock worth $17,413,000 after purchasing an additional 694,928 shares in the last quarter. Millennium Management LLC lifted its position in shares of Kiniksa Pharmaceuticals by 159.8% in the 2nd quarter. Millennium Management LLC now owns 621,948 shares of the company’s stock worth $11,612,000 after purchasing an additional 382,539 shares during the period. Jane Street Group LLC boosted its stake in shares of Kiniksa Pharmaceuticals by 1,064.4% during the 3rd quarter. Jane Street Group LLC now owns 345,092 shares of the company’s stock valued at $8,624,000 after purchasing an additional 315,456 shares in the last quarter. Finally, Rubric Capital Management LP increased its position in shares of Kiniksa Pharmaceuticals by 10.2% during the second quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company’s stock valued at $45,165,000 after buying an additional 223,094 shares during the period. Hedge funds and other institutional investors own 53.95% of the company’s stock.

Kiniksa Pharmaceuticals Stock Performance

KNSA stock traded up $0.18 during trading on Tuesday, hitting $19.78. 399,189 shares of the company traded hands, compared to its average volume of 399,291. The company has a 50-day moving average of $22.01 and a 200-day moving average of $23.18. Kiniksa Pharmaceuticals has a 1 year low of $16.56 and a 1 year high of $28.15. The firm has a market capitalization of $1.43 billion, a PE ratio of -141.28 and a beta of 0.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released 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). Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The company had revenue of $112.21 million for the quarter, compared to analysts’ expectations of $111.51 million. During the same period last year, the company posted ($0.20) EPS. The business’s revenue for the quarter was up 67.4% compared to the same quarter last year. Sell-side analysts expect that Kiniksa Pharmaceuticals will post -0.55 EPS for the current year.

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.