Kiniksa Pharmaceuticals (NASDAQ:KNSA) Shares Gap Down – Should You Sell?

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) shares gapped down prior to trading on Monday . The stock had previously closed at $19.93, but opened at $18.31. Kiniksa Pharmaceuticals shares last traded at $19.20, with a volume of 51,954 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KNSA. Evercore ISI boosted their price target on shares of Kiniksa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $34.00 target price on shares of Kiniksa Pharmaceuticals in a report on Monday. Finally, JPMorgan Chase & Co. increased their price target 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Kiniksa Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $36.60.

Kiniksa Pharmaceuticals Stock Up 0.9 %

The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -130.99 and a beta of 0.29. The firm’s 50 day moving average is $20.94 and its 200 day moving average is $23.27.

Kiniksa Pharmaceuticals (NASDAQ:KNSA) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). The company had revenue of $112.21 million for the quarter, compared to analyst estimates of $111.51 million. Kiniksa Pharmaceuticals had a negative net margin of 2.36% and a negative return on equity of 7.31%. Kiniksa Pharmaceuticals’s revenue was up 67.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.20) EPS. On average, sell-side analysts predict that Kiniksa Pharmaceuticals, Ltd. will post -0.55 earnings per share for the current year.

Insider Activity

In other Kiniksa Pharmaceuticals news, CFO Mark Ragosa sold 8,969 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $21.45, for a total transaction of $192,385.05. Following the sale, the chief financial officer now owns 22,958 shares in the company, valued at approximately $492,449.10. The trade was a 28.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its position in shares of Kiniksa Pharmaceuticals by 1.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 199,525 shares of the company’s stock valued at $3,947,000 after acquiring an additional 3,673 shares in the last quarter. Nordea Investment Management AB raised its stake in Kiniksa Pharmaceuticals by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 194,883 shares of the company’s stock valued at $3,818,000 after purchasing an additional 8,257 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Kiniksa Pharmaceuticals in the third quarter valued at $4,997,000. Franklin Resources Inc. boosted its position in shares of Kiniksa Pharmaceuticals by 1.7% in the third quarter. Franklin Resources Inc. now owns 67,533 shares of the company’s stock worth $1,798,000 after buying an additional 1,100 shares during the period. Finally, XTX Topco Ltd grew its holdings in shares of Kiniksa Pharmaceuticals by 62.2% during the third quarter. XTX Topco Ltd now owns 27,302 shares of the company’s stock valued at $682,000 after buying an additional 10,474 shares in the last quarter. 53.95% of the stock is currently owned by institutional investors and hedge funds.

About Kiniksa Pharmaceuticals

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.