Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Gap Down – What’s Next?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) shares gapped down prior to trading on Monday . The stock had previously closed at $19.93, but opened at $18.31. Kiniksa Pharmaceuticals shares last traded at $19.20, with a volume of 51,954 shares.

Analysts Set New Price Targets

KNSA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and set a $34.00 target price on shares of Kiniksa Pharmaceuticals in a report on Monday. Finally, Evercore ISI lifted their target price on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kiniksa Pharmaceuticals has an average rating of “Buy” and a consensus target price of $36.60.

Kiniksa Pharmaceuticals Stock Up 0.9 %

The firm’s 50 day moving average is $20.94 and its two-hundred day moving average is $23.27. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -130.99 and a beta of 0.29.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results 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 return on equity of 7.31% and a negative net margin of 2.36%. The company had revenue of $112.21 million for the quarter, compared to analyst estimates of $111.51 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 67.4% compared to the same quarter last year. On average, analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at Kiniksa Pharmaceuticals

In other news, CFO Mark Ragosa sold 8,969 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $21.45, for a total transaction of $192,385.05. Following the completion of the transaction, the chief financial officer now owns 22,958 shares in the company, valued at approximately $492,449.10. This represents a 28.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 54.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Kiniksa Pharmaceuticals by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 115,143 shares of the company’s stock valued at $2,150,000 after purchasing an additional 2,563 shares during the period. Arizona State Retirement System bought a new position in Kiniksa Pharmaceuticals in the 2nd quarter worth approximately $209,000. American Century Companies Inc. increased its position in Kiniksa Pharmaceuticals by 33.4% in the 2nd quarter. American Century Companies Inc. now owns 29,226 shares of the company’s stock valued at $546,000 after acquiring an additional 7,314 shares during the period. Dimensional Fund Advisors LP raised its stake in Kiniksa Pharmaceuticals by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company’s stock valued at $12,398,000 after acquiring an additional 157,741 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Kiniksa Pharmaceuticals during the 2nd quarter worth $314,000. 53.95% of the stock is owned by institutional investors and hedge funds.

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.