Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Gap Down – Should You Sell?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $27.59, but opened at $21.32. Kiniksa Pharmaceuticals shares last traded at $24.92, with a volume of 127,707 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KNSA shares. Jefferies Financial Group started coverage on shares of Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They issued a “buy” rating and a $40.00 target price for the company. Wedbush raised their target price on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $33.60.

Kiniksa Pharmaceuticals Stock Performance

The firm has a market cap of $1.71 billion, a PE ratio of 219.18 and a beta of 0.33. The firm’s 50 day moving average price is $25.70 and its two-hundred day moving average price is $22.38.

Insiders Place Their Bets

In other news, COO Eben Tessari sold 17,000 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 109,975 shares in the company, valued at approximately $2,955,028.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider John F. Paolini sold 60,692 shares of Kiniksa Pharmaceuticals stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $26.12, for a total value of $1,585,275.04. Following the completion of the sale, the insider now directly owns 52,038 shares of the company’s stock, valued at approximately $1,359,232.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a 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 dated Tuesday, October 15th. The stock was sold at an average price of $26.87, for a total value of $456,790.00. Following the transaction, the chief operating officer now directly owns 109,975 shares in the company, valued at approximately $2,955,028.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,692 shares of company stock valued at $2,950,315 over the last quarter. 54.57% of the stock is owned by insiders.

Institutional Trading of Kiniksa Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC lifted its holdings in Kiniksa Pharmaceuticals by 443.0% during the 3rd quarter. CWM LLC now owns 2,449 shares of the company’s stock worth $61,000 after buying an additional 1,998 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Kiniksa Pharmaceuticals in the first quarter valued at $71,000. nVerses Capital LLC purchased a new position in Kiniksa Pharmaceuticals in the third quarter valued at $80,000. Ashton Thomas Private Wealth LLC acquired a new position in Kiniksa Pharmaceuticals during the 2nd quarter worth $100,000. Finally, Lynx1 Capital Management LP acquired a new position in Kiniksa Pharmaceuticals during the 2nd quarter worth $177,000. 53.95% of the stock is currently owned by hedge funds and other institutional investors.

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.