Verition Fund Management LLC Invests $669,000 in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Verition Fund Management LLC purchased a new position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,784 shares of the company's stock, valued at approximately $669,000.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Kiniksa Pharmaceuticals by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 664,040 shares of the company's stock valued at $12,398,000 after acquiring an additional 157,741 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Kiniksa Pharmaceuticals during the third quarter worth about $675,000. Millennium Management LLC boosted its holdings in Kiniksa Pharmaceuticals by 159.8% in the 2nd quarter. Millennium Management LLC now owns 621,948 shares of the company's stock valued at $11,612,000 after purchasing an additional 382,539 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Kiniksa Pharmaceuticals in the 3rd quarter valued at approximately $2,438,000. Finally, Semanteon Capital Management LP acquired a new stake in shares of Kiniksa Pharmaceuticals during the 3rd quarter worth approximately $551,000. Institutional investors and hedge funds own 53.95% of the company's stock.

Kiniksa Pharmaceuticals Stock Performance

Shares of KNSA stock traded down $0.16 during midday trading on Wednesday, reaching $21.25. 205,643 shares of the company were exchanged, compared to its average volume of 399,008. The company's 50 day moving average price is $23.42 and its two-hundred day moving average price is $23.06. The company has a market cap of $1.53 billion, a P/E ratio of -151.79 and a beta of 0.27. Kiniksa Pharmaceuticals, Ltd. has a 12 month low of $16.56 and a 12 month high of $28.15.

Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.17). Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The company had revenue of $112.21 million during the quarter, compared to analyst estimates of $111.51 million. During the same quarter last year, the business earned ($0.20) EPS. The company's revenue for the quarter was up 67.4% compared to the same quarter last year. As a group, sell-side analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current year.

Insider Activity at Kiniksa Pharmaceuticals

In related news, 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 value of $192,385.05. Following the completion of the sale, the chief financial officer now owns 22,958 shares in the company, valued at approximately $492,449.10. This trade represents a 28.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eben Tessari sold 17,000 shares of the business's 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 owns 109,975 shares in the company, valued at $2,955,028.25. This represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,592 shares of company stock valued at $1,110,364. 54.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KNSA shares. Evercore ISI lifted their price objective on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group initiated coverage on Kiniksa Pharmaceuticals in a research report on Friday, September 13th. They set a "buy" rating and a $40.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $36.60.

Kiniksa Pharmaceuticals Company 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.