Martingale Asset Management L P Increases Stock Position in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Martingale Asset Management L P increased its stake in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 49,360 shares of the company’s stock after buying an additional 900 shares during the period. Martingale Asset Management L P’s holdings in Kiniksa Pharmaceuticals were worth $976,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in Kiniksa Pharmaceuticals in the 4th quarter worth approximately $158,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Kiniksa Pharmaceuticals by 12.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,814 shares of the company’s stock worth $174,000 after buying an additional 1,004 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Kiniksa Pharmaceuticals by 7.1% in the 4th quarter. Teacher Retirement System of Texas now owns 10,862 shares of the company’s stock worth $215,000 after buying an additional 719 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Kiniksa Pharmaceuticals in the fourth quarter worth $258,000. Finally, New York State Common Retirement Fund increased its position in Kiniksa Pharmaceuticals by 12.4% during the fourth quarter. New York State Common Retirement Fund now owns 15,248 shares of the company’s stock valued at $302,000 after acquiring an additional 1,680 shares during the last quarter. Institutional investors own 53.95% of the company’s stock.

Kiniksa Pharmaceuticals Stock Performance

Shares of Kiniksa Pharmaceuticals stock opened at $19.31 on Friday. Kiniksa Pharmaceuticals, Ltd. has a fifty-two week low of $16.56 and a fifty-two week high of $28.15. The company has a fifty day moving average of $20.97 and a 200 day moving average of $21.62. The company has a market capitalization of $1.40 billion, a P/E ratio of -137.92 and a beta of 0.31.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

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.