Acadian Asset Management LLC Cuts Stock Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Acadian Asset Management LLC reduced its stake in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) by 65.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,230 shares of the company's stock after selling 107,338 shares during the period. Acadian Asset Management LLC owned approximately 0.08% of Kiniksa Pharmaceuticals worth $1,067,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hhlr Advisors LTD. purchased a new position in shares of Kiniksa Pharmaceuticals during the first quarter worth $61,868,000. Altitude Crest Partners Inc. acquired a new position in Kiniksa Pharmaceuticals in the fourth quarter valued at approximately $7,999,000. Peregrine Capital Management LLC purchased a new stake in Kiniksa Pharmaceuticals in the 1st quarter worth approximately $4,657,000. Granahan Investment Management LLC grew its stake in shares of Kiniksa Pharmaceuticals by 35.2% during the 4th quarter. Granahan Investment Management LLC now owns 722,388 shares of the company's stock worth $12,671,000 after purchasing an additional 188,174 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Kiniksa Pharmaceuticals during the 1st quarter valued at approximately $3,107,000. 53.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 136,124 shares of the firm's stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $25.65, for a total transaction of $3,491,580.60. Following the completion of the sale, the chief executive officer now owns 63,012 shares of the company's stock, valued at $1,616,257.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Kiniksa Pharmaceuticals news, CEO Sanj K. Patel sold 136,124 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $25.65, for a total transaction of $3,491,580.60. Following the completion of the transaction, the chief executive officer now owns 63,012 shares of the company's stock, valued at $1,616,257.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Ragosa sold 24,248 shares of the business's stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $24.79, for a total transaction of $601,107.92. Following the completion of the sale, the chief financial officer now directly owns 19,253 shares in the company, valued at $477,281.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,564 shares of company stock valued at $6,727,929. 54.57% of the stock is currently owned by company insiders.

Kiniksa Pharmaceuticals Stock Up 0.9 %

Shares of KNSA traded up $0.23 during midday trading on Tuesday, reaching $25.39. The company had a trading volume of 295,999 shares, compared to its average volume of 411,027. The firm has a 50 day simple moving average of $24.83 and a 200-day simple moving average of $21.11. The stock has a market cap of $1.80 billion, a PE ratio of 232.00 and a beta of 0.33. Kiniksa Pharmaceuticals, Ltd. has a 1-year low of $14.12 and a 1-year high of $27.92.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. Kiniksa Pharmaceuticals had a negative net margin of 3.10% and a negative return on equity of 7.79%. The company had revenue of $108.30 million for the quarter, compared to the consensus estimate of $90.60 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. Kiniksa Pharmaceuticals's quarterly revenue was up 51.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kiniksa Pharmaceuticals, Ltd. will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KNSA has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of Kiniksa Pharmaceuticals in a report on Friday. They set a "buy" rating and a $40.00 price target on the stock. Wedbush boosted their price target on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the stock an "outperform" rating in a report on Tuesday, July 23rd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $33.60.

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.