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Steve Strazza

Baker Bros Raises Its KNSA Stake to 7.7%

October 9, 2024

The most notable insider activity on today's list comes via a 13D filing by Baker Bros Advisors.

The hedge fund increased its ownership stake in Kiniksa Pharmaceuticals $KNSA from 6.94% to 7.70%.

Baker Bros' top holdings include BeiGene, Incyte, and Acadia Pharmaceuticals. These three positions represent roughly 50% of its portfolio.

We keep a close eye on what Baker Bros is up to -- the firm is better than anyone when it comes to biotech investing. It has a knack for spotting early-stage winners and sticking with them. 

Its increased stake in KNSA means Baker Bros thinks this one will be a winner in the future. 

We agree.

Here’s The Hot Corner, with data from October 8, 2024:

241009_hot_corner_table

KNSA has been carving out a massive base for the past four years.

Price is currently at the upper ends of this range as buyers absorb all the overhead supply at this resistance level:

241009_hot_corner_knsa

If and when we get a decisive breakout above 28, we want to be long with a target of 41.

Stay tuned. We'll be back on Thursday with more insider activity.

And please reach out with any questions. We love hearing from you!

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