HighVista Strategies LLC Decreases Holdings in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

HighVista Strategies LLC cut its stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 15.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,639 shares of the company’s stock after selling 14,049 shares during the quarter. HighVista Strategies LLC owned about 0.10% of Kiniksa Pharmaceuticals worth $1,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC raised its holdings in shares of Kiniksa Pharmaceuticals by 443.0% during the 3rd quarter. CWM LLC now owns 2,449 shares of the company’s stock valued at $61,000 after buying an additional 1,998 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Kiniksa Pharmaceuticals in the first quarter worth about $71,000. nVerses Capital LLC purchased a new position in Kiniksa Pharmaceuticals in the third quarter valued at about $80,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Kiniksa Pharmaceuticals in the 2nd quarter valued at approximately $100,000. Finally, Lynx1 Capital Management LP purchased a new position in shares of Kiniksa Pharmaceuticals during the 2nd quarter valued at approximately $177,000. Institutional investors and hedge funds own 53.95% of the company’s stock.

Analysts Set New Price Targets

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

Kiniksa Pharmaceuticals Trading Down 1.0 %

KNSA opened at $21.85 on Tuesday. The business’s 50 day moving average is $23.95 and its 200-day moving average is $22.98. The stock has a market cap of $1.58 billion, a PE ratio of -156.06 and a beta of 0.27. Kiniksa Pharmaceuticals, Ltd. has a twelve month low of $16.47 and a twelve month high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). The business had revenue of $112.21 million for the quarter, compared to analyst estimates of $111.51 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The company’s revenue was up 67.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.20) EPS. As a group, analysts forecast that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current year.

Insider Buying and Selling

In related news, COO Eben Tessari sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $24.99, for a total transaction of $437,325.00. Following the completion of the sale, the chief operating officer now directly owns 116,975 shares in the company, valued at approximately $2,923,205.25. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 54.57% of the stock is owned by corporate insiders.

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.