Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Gap Down – Time to Sell?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)’s share price 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.

Analyst Ratings Changes

Several research firms have commented on KNSA. Jefferies Financial Group initiated coverage on shares of Kiniksa Pharmaceuticals in a report on Friday, September 13th. They set a “buy” rating and a $40.00 price target for the company. Wedbush boosted their target price on shares of Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $33.60.

Kiniksa Pharmaceuticals Stock Down 12.6 %

The company has a market cap of $1.71 billion, a price-to-earnings ratio of 219.18 and a beta of 0.33. The business’s fifty day simple moving average is $25.70 and its two-hundred day simple moving average is $22.38.

Insider Activity at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 17,500 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $26.91, for a total value of $470,925.00. Following the completion of the transaction, the chief operating officer now owns 119,911 shares in the company, valued at $3,226,805.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Kiniksa Pharmaceuticals news, insider John F. Paolini sold 60,692 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $26.12, for a total transaction of $1,585,275.04. Following the transaction, the insider now owns 52,038 shares of the company’s stock, valued at $1,359,232.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Eben Tessari sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $26.91, for a total value of $470,925.00. Following the completion of the sale, the chief operating officer now owns 119,911 shares of the company’s stock, valued at approximately $3,226,805.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,692 shares of company stock valued at $2,950,315 in the last ninety days. Insiders own 54.57% of the company’s stock.

Hedge Funds Weigh In On Kiniksa Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Rice Hall James & Associates LLC grew its position in Kiniksa Pharmaceuticals by 8.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 649,630 shares of the company’s stock worth $16,234,000 after purchasing an additional 49,000 shares during the last quarter. AMI Asset Management Corp purchased a new position in shares of Kiniksa Pharmaceuticals during the third quarter worth about $1,281,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Kiniksa Pharmaceuticals by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,810 shares of the company’s stock worth $195,000 after buying an additional 3,076 shares during the last quarter. Semanteon Capital Management LP acquired a new position in Kiniksa Pharmaceuticals in the 3rd quarter valued at about $551,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Kiniksa Pharmaceuticals by 7.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 195,852 shares of the company’s stock valued at $4,894,000 after acquiring an additional 13,886 shares during the last quarter. 53.95% of the stock is owned by institutional investors and hedge funds.

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.