Kiniksa CEO Sanj Patel Sells $8.2 Million of Company Stock
Four other Kiniksa insiders sold about 272,600 shares worth roughly $25.4 million between October 30 and November 2, according to MarketBeat.
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Sanj Patel, chief executive of Kiniksa Pharmaceuticals International, sold 89,433 shares of the biopharmaceutical company on November 2 at an average price of $91.86, a total of $8,215,315.38, MarketBeat reported, citing a filing with the Securities and Exchange Commission.
The sale left Patel with 869,881 shares directly held, worth about $79.9 million, a 9.32% reduction in his position. The transaction was carried out under a pre-arranged Rule 10b5-1 trading plan.
Four other insiders — chief accounting officer Michael Megna, chief operating officer Ross Moat, chief financial officer Mark Ragosa and John Paolini — reported sales totaling roughly 272,600 shares, worth about $25.4 million, between October 30 and November 2, also under 10b5-1 plans, according to MarketBeat.
Kiniksa shares traded at $93.29 on November 3, against a 52-week range of $37.02 to $98.48 and a market value of $7.28 billion. The company reported quarterly earnings of $0.56 per share on October 27, above the $0.37 consensus, on revenue of $285.97 million. Its lead product is ARCALYST, an interleukin-1 inhibitor.
This story was first reported by MarketBeat.
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