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

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)’s share price 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 changing hands.

Analyst Ratings Changes

Several 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 report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective 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. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $36.60.

Kiniksa Pharmaceuticals Stock Performance

The firm’s 50-day moving average is $21.08 and its two-hundred day moving average is $23.28. The stock has a market cap of $1.30 billion, a P/E ratio of -128.85 and a beta of 0.29.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $112.21 million for the quarter, compared to analyst estimates of $111.51 million. During the same period last year, the company earned ($0.20) EPS. The company’s revenue was up 67.4% compared to the same quarter last year. As a group, research analysts forecast that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

Insider Buying and Selling at Kiniksa Pharmaceuticals

In related news, CFO Mark Ragosa sold 8,969 shares of the business’s stock in a transaction that occurred on 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. The trade was a 28.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Eben Tessari sold 17,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 109,975 shares of the company’s stock, valued at approximately $2,955,028.25. The trade was 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 27,092 shares of company stock valued at $673,039. 54.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Braidwell LP lifted its position in Kiniksa Pharmaceuticals by 40.6% in the 3rd 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 boosted its position in Kiniksa Pharmaceuticals by 36,925.0% during the 3rd quarter. FMR LLC now owns 696,810 shares of the company’s stock worth $17,413,000 after acquiring an additional 694,928 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Kiniksa Pharmaceuticals by 159.8% in the second quarter. Millennium Management LLC now owns 621,948 shares of the company’s stock valued at $11,612,000 after purchasing an additional 382,539 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Kiniksa Pharmaceuticals by 1,064.4% in the third quarter. Jane Street Group LLC now owns 345,092 shares of the company’s stock worth $8,624,000 after purchasing an additional 315,456 shares in the last quarter. Finally, Rubric Capital Management LP boosted its holdings in Kiniksa Pharmaceuticals by 10.2% during the second quarter. Rubric Capital Management LP now owns 2,419,103 shares of the company’s stock worth $45,165,000 after purchasing an additional 223,094 shares during the last quarter. Institutional investors own 53.95% of the company’s stock.

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.