Prudential Financial Inc. Sells 26,800 Shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Prudential Financial Inc. lessened its stake in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,920 shares of the company's stock after selling 26,800 shares during the quarter. Prudential Financial Inc. owned approximately 0.13% of Kiniksa Pharmaceuticals worth $1,818,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC bought a new stake in Kiniksa Pharmaceuticals during the 3rd quarter worth $834,000. The Manufacturers Life Insurance Company bought a new stake in shares of Kiniksa Pharmaceuticals during the third quarter worth about $354,000. FMR LLC increased its stake in shares of Kiniksa Pharmaceuticals by 36,925.0% in the third quarter. FMR LLC now owns 696,810 shares of the company's stock valued at $17,413,000 after buying an additional 694,928 shares during the period. MetLife Investment Management LLC raised its holdings in Kiniksa Pharmaceuticals by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 21,721 shares of the company's stock valued at $543,000 after buying an additional 12,239 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Kiniksa Pharmaceuticals during the 3rd quarter worth approximately $189,000. 53.95% of the stock is currently owned by institutional investors and hedge funds.

Kiniksa Pharmaceuticals Stock Up 2.2 %

KNSA traded up $0.42 during trading on Wednesday, reaching $19.90. 876,023 shares of the stock traded hands, compared to its average volume of 453,491. The stock's 50-day moving average is $20.96 and its 200 day moving average is $21.69. Kiniksa Pharmaceuticals, Ltd. has a 12 month low of $16.56 and a 12 month high of $28.15. The stock has a market capitalization of $1.45 billion, a PE ratio of -142.13 and a beta of 0.31.

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

Insider Transactions at Kiniksa Pharmaceuticals

In related news, CAO Michael R. Megna sold 9,051 shares of Kiniksa Pharmaceuticals stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $22.45, for a total transaction of $203,194.95. Following the completion of the sale, the chief accounting officer now owns 26,528 shares of the company's stock, valued at approximately $595,553.60. This trade represents a 25.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Ragosa sold 8,879 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $23.10, for a total transaction of $205,104.90. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at $540,124.20. The trade was a 27.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,766 shares of company stock worth $2,011,735 in the last ninety days. Company insiders own 54.57% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wedbush restated an "outperform" rating and issued a $34.00 price target on shares of Kiniksa Pharmaceuticals in a research report on Tuesday, February 25th. Citigroup initiated coverage on Kiniksa Pharmaceuticals in a report on Thursday, March 13th. They issued a "buy" rating and a $40.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Kiniksa Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $37.17.

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.