Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Gap Down - Here's Why

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Get Free Report) gapped down prior to trading 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 changing hands.

Analyst Ratings Changes

Several research analysts recently commented on KNSA shares. Jefferies Financial Group started coverage on 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 price objective on Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $33.60.

Kiniksa Pharmaceuticals Stock Down 15.7 %

The firm's fifty day moving average price is $25.70 and its 200-day moving average price is $22.38. The stock has a market cap of $1.65 billion, a P/E ratio of 219.18 and a beta of 0.33.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in Kiniksa Pharmaceuticals by 18.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,106 shares of the company's stock worth $1,206,000 after buying an additional 9,490 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Kiniksa Pharmaceuticals by 42.7% during the first quarter. Principal Financial Group Inc. now owns 58,991 shares of the company's stock valued at $1,164,000 after buying an additional 17,659 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Kiniksa Pharmaceuticals by 5.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,935 shares of the company's stock worth $413,000 after buying an additional 1,153 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Kiniksa Pharmaceuticals by 7.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,843 shares of the company's stock worth $530,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in Kiniksa Pharmaceuticals in the first quarter valued at about $3,107,000. Institutional investors own 53.95% of the company's stock.

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.