Bank of New York Mellon Corp boosted its stake in shares of Kiniksa Pharmaceuticals Ltd (NASDAQ:KNSA) by 20.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,371 shares of the company’s stock after acquiring an additional 9,427 shares during the period. Bank of New York Mellon Corp owned 0.10% of Kiniksa Pharmaceuticals worth $764,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Kiniksa Pharmaceuticals by 33.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,832 shares of the company’s stock worth $52,000 after acquiring an additional 952 shares during the period. Rhumbline Advisers increased its stake in shares of Kiniksa Pharmaceuticals by 61.2% in the 1st quarter. Rhumbline Advisers now owns 12,811 shares of the company’s stock valued at $231,000 after purchasing an additional 4,862 shares during the last quarter. Strs Ohio increased its stake in shares of Kiniksa Pharmaceuticals by 175.5% in the 2nd quarter. Strs Ohio now owns 13,500 shares of the company’s stock valued at $182,000 after purchasing an additional 8,600 shares during the last quarter. M&T Bank Corp bought a new position in shares of Kiniksa Pharmaceuticals in the 2nd quarter valued at $141,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Kiniksa Pharmaceuticals by 50.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,013 shares of the company’s stock valued at $488,000 after purchasing an additional 12,021 shares during the last quarter. Hedge funds and other institutional investors own 30.22% of the company’s stock.
Shares of KNSA opened at $6.37 on Friday. Kiniksa Pharmaceuticals Ltd has a 52-week low of $6.08 and a 52-week high of $28.90. The business’s fifty day moving average is $8.63 and its 200-day moving average is $13.11. The firm has a market cap of $370.27 million, a price-to-earnings ratio of -1.83 and a beta of -1.35.
Several brokerages have recently issued reports on KNSA. Zacks Investment Research upgraded Kiniksa Pharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, August 16th. JMP Securities decreased their price target on Kiniksa Pharmaceuticals to $35.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 14th. They noted that the move was a valuation call. Wedbush reiterated a “buy” rating on shares of Kiniksa Pharmaceuticals in a research note on Wednesday, August 14th. Finally, ValuEngine upgraded Kiniksa Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, Kiniksa Pharmaceuticals currently has an average rating of “Buy” and an average price target of $26.50.
About Kiniksa Pharmaceuticals
Kiniksa Pharmaceuticals, Ltd., a clinical-stage biopharmaceutical company, focuses on the discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need worldwide. Its clinical-stage product candidates include Rilonacept, which is in Phase II clinical trials for the treatment of recurrent pericarditis, an inflammatory cardiovascular disease; Mavrilimumab, a monoclonal antibody for the treatment of giant cell arteritis; and KPL-716, a monoclonal antibody, which is in Phase 1a/1b clinical trial for the treatment of prurigo nodularis and atopic dermatitis.
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