Bayesian Capital Management LP Buys Shares of 11,245 Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)

Bayesian Capital Management LP acquired a new position in shares of Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,245 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Kiniksa Pharmaceuticals in the first quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. boosted its stake in Kiniksa Pharmaceuticals by 349.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,097 shares of the company’s stock worth $72,000 after buying an additional 3,186 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Kiniksa Pharmaceuticals in the fourth quarter worth approximately $213,000. Victory Capital Management Inc. boosted its stake in Kiniksa Pharmaceuticals by 45.0% in the fourth quarter. Victory Capital Management Inc. now owns 14,653 shares of the company’s stock worth $257,000 after buying an additional 4,547 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Kiniksa Pharmaceuticals in the first quarter worth approximately $266,000. Hedge funds and other institutional investors own 53.95% of the company’s stock.

Kiniksa Pharmaceuticals Stock Down 3.1 %

Shares of Kiniksa Pharmaceuticals stock opened at $25.77 on Friday. The company has a market cap of $1.83 billion, a PE ratio of 234.29 and a beta of 0.38. The business has a 50 day moving average of $20.38 and a 200 day moving average of $19.62. Kiniksa Pharmaceuticals, Ltd. has a 52 week low of $14.12 and a 52 week high of $27.88.

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

Insider Activity at Kiniksa Pharmaceuticals

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 24,248 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $24.79, for a total value of $601,107.92. Following the completion of the transaction, the chief financial officer now owns 19,253 shares in the company, valued at $477,281.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Mark Ragosa sold 24,248 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $24.79, for a total value of $601,107.92. Following the sale, the chief financial officer now directly owns 19,253 shares of the company’s stock, valued at $477,281.87. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John F. Paolini sold 22,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were 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 in the company, valued at $1,258,174.96. The disclosure for this sale can be found here. Insiders sold a total of 182,372 shares of company stock worth $4,671,729 over the last quarter. 54.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KNSA. JPMorgan Chase & Co. upped 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. Wedbush boosted their price objective on Kiniksa Pharmaceuticals from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Evercore ISI boosted their price objective on Kiniksa Pharmaceuticals from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company assumed coverage on Kiniksa Pharmaceuticals in a research report on Friday, May 3rd. They issued an “overweight” rating and a $34.00 price objective for the company. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.00.

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.