Connor Clark & Lunn Investment Management Ltd. Sells 17,118 Shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Connor Clark & Lunn Investment Management Ltd. reduced its position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 306,946 shares of the company's stock after selling 17,118 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.43% of Kiniksa Pharmaceuticals worth $6,071,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of KNSA. GSA Capital Partners LLP bought a new position in Kiniksa Pharmaceuticals during the 3rd quarter valued at $268,000. Segall Bryant & Hamill LLC purchased a new stake in Kiniksa Pharmaceuticals in the 3rd quarter worth about $675,000. Cerity Partners LLC purchased a new stake in Kiniksa Pharmaceuticals in the 3rd quarter worth about $834,000. Algert Global LLC boosted its stake in Kiniksa Pharmaceuticals by 390.0% in the 3rd quarter. Algert Global LLC now owns 91,159 shares of the company's stock worth $2,278,000 after purchasing an additional 72,556 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Kiniksa Pharmaceuticals in the 3rd quarter worth about $354,000. 53.95% of the stock is currently owned by institutional investors.

Kiniksa Pharmaceuticals Stock Up 2.1 %

Shares of KNSA stock traded up $0.47 during trading hours on Wednesday, hitting $23.08. 396,095 shares of the company's stock traded hands, compared to its average volume of 611,861. The stock's fifty day simple moving average is $20.10 and its two-hundred day simple moving average is $22.07. Kiniksa Pharmaceuticals, Ltd. has a 12-month low of $16.56 and a 12-month high of $28.15. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -164.85 and a beta of 0.48.

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Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $122.50 million for the quarter, compared to analysts' expectations of $123.42 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. Kiniksa Pharmaceuticals's revenue for the quarter was up 46.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, equities analysts forecast that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 36,372 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $22.25, for a total value of $809,277.00. Following the completion of the sale, the chief financial officer now owns 22,958 shares of the company's stock, valued at approximately $510,815.50. The trade was a 61.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael R. Megna sold 9,051 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $22.45, for a total transaction of $203,194.95. Following the completion of the sale, the chief accounting officer now directly owns 26,528 shares of the company's stock, valued at approximately $595,553.60. This trade represents a 25.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,423 shares of company stock valued at $1,541,812. Company insiders own 54.57% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KNSA shares. Citigroup started coverage on Kiniksa Pharmaceuticals in a research report on Thursday, March 13th. They set a "buy" rating and a $40.00 price target for the company. Wedbush reiterated an "outperform" rating and set a $34.00 target price on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $37.17.

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.