Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Sees Significant Increase in Short Interest

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 4,510,000 shares, an increase of 14.5% from the July 15th total of 3,940,000 shares. Based on an average trading volume of 462,600 shares, the short-interest ratio is currently 9.7 days.

Kiniksa Pharmaceuticals Stock Performance

KNSA traded down $0.17 on Friday, hitting $26.00. 511,747 shares of the company were exchanged, compared to its average volume of 427,654. The firm has a fifty day simple moving average of $21.82 and a two-hundred day simple moving average of $20.19. The stock has a market capitalization of $1.84 billion, a PE ratio of 236.36 and a beta of 0.38. Kiniksa Pharmaceuticals has a 12 month low of $14.12 and a 12 month high of $27.88.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last released its earnings results on Tuesday, July 23rd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $108.30 million for the quarter, compared to analysts’ expectations of $90.60 million. Kiniksa Pharmaceuticals had a negative return on equity of 7.79% and a negative net margin of 3.10%. The company’s quarterly revenue was up 51.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) earnings per share. On average, equities analysts expect that Kiniksa Pharmaceuticals will post -0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

KNSA has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Wells Fargo & Company began coverage on shares of Kiniksa Pharmaceuticals in a research report on Friday, May 3rd. They issued an “overweight” rating and a $34.00 price target on the stock. Wedbush increased their price target on Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Kiniksa Pharmaceuticals from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Kiniksa Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $32.00.

Insider Transactions at Kiniksa Pharmaceuticals

In related news, insider John F. Paolini sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $26.32, for a total value of $579,040.00. Following the sale, the insider now directly owns 47,803 shares of the company’s stock, valued at $1,258,174.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Kiniksa Pharmaceuticals news, insider John F. Paolini sold 22,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $26.32, for a total value of $579,040.00. Following the completion of the transaction, the insider now owns 47,803 shares of the company’s stock, valued at approximately $1,258,174.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanj K. Patel sold 136,124 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $25.65, for a total transaction of $3,491,580.60. Following the sale, the chief executive officer now directly owns 63,012 shares in the company, valued at $1,616,257.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,372 shares of company stock valued at $4,671,729. Company insiders own 54.57% of the company’s stock.

Institutional Trading of Kiniksa Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in KNSA. Lazard Asset Management LLC purchased a new stake in Kiniksa Pharmaceuticals during the 1st quarter valued at $71,000. Ashton Thomas Private Wealth LLC bought a new stake in Kiniksa Pharmaceuticals during the 2nd quarter worth approximately $100,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Kiniksa Pharmaceuticals by 88.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,708 shares of the company’s stock valued at $152,000 after buying an additional 3,611 shares in the last quarter. Lynx1 Capital Management LP purchased a new position in shares of Kiniksa Pharmaceuticals in the second quarter valued at about $177,000. Finally, Arizona State Retirement System bought a new position in Kiniksa Pharmaceuticals in the 2nd quarter worth approximately $209,000. 53.95% of the stock is currently owned by hedge funds and other institutional investors.

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.