Bank of New York Mellon Corp Increases Stake in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Bank of New York Mellon Corp lifted its position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 2.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 115,143 shares of the company’s stock after purchasing an additional 2,563 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of Kiniksa Pharmaceuticals worth $2,150,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hhlr Advisors LTD. purchased a new stake in shares of Kiniksa Pharmaceuticals during the first quarter worth about $61,868,000. Vanguard Group Inc. increased its position in shares of Kiniksa Pharmaceuticals by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,981,894 shares of the company’s stock valued at $58,833,000 after purchasing an additional 16,595 shares during the period. Granahan Investment Management LLC grew its position in Kiniksa Pharmaceuticals by 35.2% in the fourth quarter. Granahan Investment Management LLC now owns 722,388 shares of the company’s stock worth $12,671,000 after buying an additional 188,174 shares during the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Kiniksa Pharmaceuticals by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 615,693 shares of the company’s stock worth $10,799,000 after acquiring an additional 105,883 shares during the last quarter. Finally, Altitude Crest Partners Inc. acquired a new position in Kiniksa Pharmaceuticals in the 4th quarter worth approximately $7,999,000. Hedge funds and other institutional investors own 53.95% of the company’s stock.

Kiniksa Pharmaceuticals Stock Performance

Shares of KNSA opened at $25.39 on Wednesday. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $14.12 and a 52 week high of $27.92. The firm’s 50-day simple moving average is $24.83 and its 200 day simple moving average is $21.11. The firm has a market cap of $1.80 billion, a P/E ratio of 232.00 and a beta of 0.33.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its earnings results on Tuesday, July 23rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. Kiniksa Pharmaceuticals had a negative return on equity of 7.79% and a negative net margin of 3.10%. The firm had revenue of $108.30 million during the quarter, compared to analysts’ expectations of $90.60 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The company’s quarterly revenue was up 51.5% on a year-over-year basis. As a group, equities analysts forecast that Kiniksa Pharmaceuticals, Ltd. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

KNSA has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on Kiniksa Pharmaceuticals in a research note on Friday, September 13th. They issued a “buy” rating and a $40.00 price target for the company. Wedbush lifted their price objective on Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.60.

Insider Buying and Selling at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, COO Eben Tessari sold 17,500 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $26.91, for a total value of $470,925.00. Following the sale, the chief operating officer now owns 119,911 shares in the company, valued at approximately $3,226,805.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 24,248 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $24.79, for a total transaction of $601,107.92. Following the completion of the sale, the chief financial officer now directly owns 19,253 shares of the company’s stock, valued at approximately $477,281.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eben Tessari sold 17,500 shares of the firm’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 transaction, the chief operating officer now owns 119,911 shares in the company, valued at $3,226,805.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 260,564 shares of company stock worth $6,727,929. 54.57% of the stock is currently owned by insiders.

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.