Pictet Asset Management Holding SA Has $22.43 Million Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Pictet Asset Management Holding SA cut its position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,133,931 shares of the company's stock after selling 73,818 shares during the quarter. Pictet Asset Management Holding SA owned 1.57% of Kiniksa Pharmaceuticals worth $22,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KNSA. JPMorgan Chase & Co. boosted its stake in Kiniksa Pharmaceuticals by 138.9% during the fourth quarter. JPMorgan Chase & Co. now owns 477,800 shares of the company's stock worth $9,451,000 after buying an additional 277,827 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Kiniksa Pharmaceuticals during the 4th quarter worth about $158,000. Teacher Retirement System of Texas boosted its position in shares of Kiniksa Pharmaceuticals by 7.1% during the 4th quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company's stock valued at $215,000 after acquiring an additional 719 shares in the last quarter. Globeflex Capital L P increased its stake in Kiniksa Pharmaceuticals by 217.1% in the fourth quarter. Globeflex Capital L P now owns 88,596 shares of the company's stock valued at $1,752,000 after acquiring an additional 60,656 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Kiniksa Pharmaceuticals in the fourth quarter worth about $3,955,000. 53.95% of the stock is currently owned by institutional investors.

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Insider Activity at Kiniksa Pharmaceuticals

In related news, CFO Mark Ragosa sold 36,372 shares of the 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 transaction, the chief financial officer now directly owns 22,958 shares in the company, valued at $510,815.50. This represents a 61.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Eben Tessari sold 14,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $19.57, for a total transaction of $273,980.00. Following the completion of the transaction, the chief operating officer now directly owns 81,975 shares in the company, valued at approximately $1,604,250.75. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,766 shares of company stock valued at $2,011,735 over the last quarter. Corporate insiders own 54.57% of the company's stock.

Kiniksa Pharmaceuticals Price Performance

Shares of KNSA stock traded down $0.09 during trading hours on Thursday, hitting $21.76. 494,023 shares of the company's stock were exchanged, compared to its average volume of 445,515. The stock's 50-day moving average is $20.96 and its 200-day moving average is $21.92. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $16.56 and a 52 week high of $28.15. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -155.42 and a beta of 0.48.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KNSA shares. Wedbush reaffirmed an "outperform" rating and set a $34.00 price objective on shares of Kiniksa Pharmaceuticals in a report on Tuesday, February 25th. Citigroup started coverage on Kiniksa Pharmaceuticals in a research note on Thursday, March 13th. They issued a "buy" rating and a $40.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $37.17.

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.