Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) Short Interest Down 20.9% in March

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSAGet Rating) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totalling 2,580,000 shares, a decrease of 20.9% from the March 15th total of 3,260,000 shares. Based on an average daily volume of 354,000 shares, the days-to-cover ratio is currently 7.3 days.

KNSA has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Kiniksa Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, February 24th. Bank of America lowered their price objective on shares of Kiniksa Pharmaceuticals from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, December 29th.

Shares of KNSA stock traded up $0.55 during mid-day trading on Tuesday, reaching $11.07. 3,764 shares of the company were exchanged, compared to its average volume of 343,702. Kiniksa Pharmaceuticals has a fifty-two week low of $9.05 and a fifty-two week high of $17.46. The company has a market capitalization of $764.98 million, a P/E ratio of -4.74 and a beta of -0.02. The company has a 50 day moving average price of $10.45.

Kiniksa Pharmaceuticals (NASDAQ:KNSAGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.09). The firm had revenue of $18.75 million for the quarter, compared to analyst estimates of $16.32 million. As a group, equities research analysts predict that Kiniksa Pharmaceuticals will post -1.82 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Kiniksa Pharmaceuticals by 3.8% in the third quarter. Geode Capital Management LLC now owns 476,395 shares of the company’s stock valued at $5,426,000 after buying an additional 17,536 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Kiniksa Pharmaceuticals by 15.5% in the third quarter. Goldman Sachs Group Inc. now owns 489,573 shares of the company’s stock valued at $5,576,000 after buying an additional 65,877 shares during the last quarter. Granahan Investment Management Inc. MA bought a new stake in Kiniksa Pharmaceuticals in the third quarter valued at $4,622,000. Point72 Asset Management L.P. bought a new stake in Kiniksa Pharmaceuticals in the third quarter valued at $4,272,000. Finally, Opaleye Management Inc. raised its stake in shares of Kiniksa Pharmaceuticals by 13.4% during the third quarter. Opaleye Management Inc. now owns 1,310,000 shares of the company’s stock valued at $14,921,000 after purchasing an additional 154,800 shares in the last quarter. Hedge funds and other institutional investors own 43.01% of the company’s stock.

About Kiniksa Pharmaceuticals (Get Rating)

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, which is in Phase 2a 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.

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