Connor Clark & Lunn Investment Management Ltd. boosted its stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA - Free Report) by 40.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 324,064 shares of the company's stock after purchasing an additional 92,985 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.45% of Kiniksa Pharmaceuticals worth $8,098,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. acquired a new stake in Kiniksa Pharmaceuticals in the 1st quarter valued at $1,450,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Kiniksa Pharmaceuticals during the first quarter valued at about $266,000. Vanguard Group Inc. increased its position in shares of Kiniksa Pharmaceuticals by 0.6% during the first quarter. Vanguard Group Inc. now owns 2,981,894 shares of the company's stock worth $58,833,000 after acquiring an additional 16,595 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Kiniksa Pharmaceuticals in the 1st quarter worth about $71,000. Finally, Bayesian Capital Management LP bought a new position in Kiniksa Pharmaceuticals in the 1st quarter valued at about $222,000. 53.95% of the stock is owned by institutional investors.
In related news, COO Eben Tessari sold 17,000 shares of Kiniksa Pharmaceuticals stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.87, for a total value of $456,790.00. Following the sale, the chief operating officer now owns 109,975 shares of the company's stock, valued at approximately $2,955,028.25. The trade was a 13.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Paolini sold 60,692 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $26.12, for a total value of $1,585,275.04. Following the transaction, the insider now directly owns 52,038 shares of the company's stock, valued at approximately $1,359,232.56. This trade represents a 53.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,692 shares of company stock worth $2,950,315. Insiders own 54.57% of the company's stock.
Shares of KNSA opened at $21.28 on Friday. The stock has a 50 day moving average of $24.37 and a 200 day moving average of $22.85. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -151.99 and a beta of 0.35. Kiniksa Pharmaceuticals, Ltd. has a 12 month low of $15.52 and a 12 month high of $28.15.
Kiniksa Pharmaceuticals (NASDAQ:KNSA - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.17). The business had revenue of $112.21 million for the quarter, compared to analysts' expectations of $111.51 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. The company's revenue for the quarter was up 67.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) earnings per share. As a group, equities research analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current year.
KNSA has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on Kiniksa Pharmaceuticals in a report on Friday, September 13th. They set a "buy" rating and a $40.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on Kiniksa Pharmaceuticals from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Kiniksa Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $36.60.
Read Our Latest Report on KNSA
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.
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