Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Gap Down - What's Next?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Get Free Report)'s stock price gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KNSA shares. JPMorgan Chase & Co. raised their target price 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. Evercore ISI raised 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. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $36.60.

Kiniksa Pharmaceuticals Trading Down 8.8 %

The business has a 50 day moving average of $21.08 and a 200-day moving average of $23.28. The firm has a market capitalization of $1.31 billion, a P/E ratio of -129.78 and a beta of 0.29.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last released its 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). Kiniksa Pharmaceuticals had a negative return on equity of 7.31% and a negative net margin of 2.36%. The firm had revenue of $112.21 million for the quarter, compared to the consensus estimate of $111.51 million. During the same quarter last year, the company posted ($0.20) EPS. Kiniksa Pharmaceuticals's revenue for the quarter was up 67.4% on a year-over-year basis. On average, analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Eben Tessari sold 17,000 shares of the 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 transaction, the chief operating officer now directly owns 109,975 shares of the company's stock, valued at $2,955,028.25. This represents a 13.39 % 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, CFO Mark Ragosa sold 8,969 shares of the stock in a transaction dated 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 directly owns 22,958 shares in the company, valued at approximately $492,449.10. This represents a 28.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,092 shares of company stock valued at $673,039 in the last 90 days. 54.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB grew its position in shares of Kiniksa Pharmaceuticals by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 194,883 shares of the company's stock worth $3,818,000 after purchasing an additional 8,257 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Kiniksa Pharmaceuticals in the 3rd quarter valued at $4,997,000. Franklin Resources Inc. lifted its position in shares of Kiniksa Pharmaceuticals by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 67,533 shares of the company's stock valued at $1,798,000 after acquiring an additional 1,100 shares during the period. XTX Topco Ltd grew its holdings in shares of Kiniksa Pharmaceuticals by 62.2% during the 3rd quarter. XTX Topco Ltd now owns 27,302 shares of the company's stock worth $682,000 after purchasing an additional 10,474 shares in the last quarter. Finally, Castleark Management LLC bought a new position in shares of Kiniksa Pharmaceuticals in the third quarter worth $4,178,000. 53.95% of the stock is currently owned by institutional investors and hedge funds.

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.