JPMorgan Chase & Co. Takes $5 Million Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

JPMorgan Chase & Co. purchased a new stake in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 199,973 shares of the company's stock, valued at approximately $4,997,000. JPMorgan Chase & Co. owned about 0.28% of Kiniksa Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Kiniksa Pharmaceuticals in the third quarter worth about $1,192,000. Dimensional Fund Advisors LP grew its holdings in Kiniksa Pharmaceuticals by 31.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company's stock valued at $12,398,000 after buying an additional 157,741 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Kiniksa Pharmaceuticals in the 3rd quarter worth approximately $675,000. Parkman Healthcare Partners LLC lifted its holdings in shares of Kiniksa Pharmaceuticals by 16.7% during the third quarter. Parkman Healthcare Partners LLC now owns 755,244 shares of the company's stock worth $18,874,000 after buying an additional 108,102 shares during the last quarter. Finally, Millennium Management LLC boosted its position 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 acquiring an additional 382,539 shares during the period. Institutional investors own 53.95% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on KNSA. JPMorgan Chase & Co. boosted their target price on shares of Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Evercore ISI upped their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Wedbush reiterated an "outperform" rating and issued a $34.00 target price on shares of Kiniksa Pharmaceuticals in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kiniksa Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $36.60.

Insider Buying and Selling

In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 14,000 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.24, for a total transaction of $255,360.00. Following the sale, the chief operating officer now directly owns 88,975 shares of the company's stock, valued at approximately $1,622,904. This represents a 13.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Ragosa sold 8,969 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $21.45, for a total transaction of $192,385.05. Following the sale, the chief financial officer now directly owns 22,958 shares of the company's stock, valued at approximately $492,449.10. The trade was a 28.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,092 shares of company stock worth $471,609 in the last 90 days. 54.57% of the stock is owned by company insiders.

Kiniksa Pharmaceuticals Stock Performance

Shares of NASDAQ:KNSA traded up $0.15 during midday trading on Friday, reaching $18.54. 482,338 shares of the company's stock were exchanged, compared to its average volume of 487,249. The company's 50 day simple moving average is $20.67 and its two-hundred day simple moving average is $23.21. Kiniksa Pharmaceuticals, Ltd. has a 12 month low of $16.56 and a 12 month high of $28.15. The firm has a market capitalization of $1.34 billion, a PE ratio of -132.42 and a beta of 0.29.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) 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 the consensus estimate of $111.51 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. During the same quarter in the prior year, the business earned ($0.20) EPS. The firm's revenue for the quarter was up 67.4% on a year-over-year basis. On average, research analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current year.

Kiniksa Pharmaceuticals 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.