Kyverna Therapeutics (NASDAQ:KYTX) Shares Up 6.2% – Here’s What Happened
by Teresa Graham · The Cerbat GemKyverna Therapeutics, Inc. (NASDAQ:KYTX – Get Free Report) shares shot up 6.2% on Monday . The company traded as high as $10.54 and last traded at $10.5450. 459,658 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 736,538 shares. The stock had previously closed at $9.93.
Analyst Ratings Changes
A number of research firms recently issued reports on KYTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Friday, March 27th. Wall Street Zen lowered shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.67.
Check Out Our Latest Report on Kyverna Therapeutics
Kyverna Therapeutics Trading Up 12.9%
The business has a fifty day simple moving average of $8.43 and a 200-day simple moving average of $8.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 7.75 and a current ratio of 7.75. The firm has a market cap of $678.48 million, a price-to-earnings ratio of -3.07 and a beta of 2.62.
Kyverna Therapeutics (NASDAQ:KYTX – Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). As a group, equities analysts forecast that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Kyverna Therapeutics
Several hedge funds have recently added to or reduced their stakes in KYTX. Bank of America Corp DE grew its holdings in Kyverna Therapeutics by 41.6% during the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock worth $81,000 after acquiring an additional 6,400 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Kyverna Therapeutics by 31.1% during the first quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company’s stock valued at $132,000 after acquiring an additional 16,267 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Kyverna Therapeutics during the first quarter worth $137,000. Rhumbline Advisers lifted its holdings in shares of Kyverna Therapeutics by 22.0% during the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock worth $61,000 after purchasing an additional 5,694 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Kyverna Therapeutics in the second quarter worth $107,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.
Kyverna Therapeutics Company Profile
Kyverna Therapeutics is a clinical‐stage biotechnology company dedicated to developing engineered regulatory T‐cell (Treg) therapies for the treatment of autoimmune and inflammatory diseases. Leveraging a proprietary platform for the isolation, expansion and modification of Treg cells, the company aims to restore immune homeostasis in patients by delivering antigen‐specific cell therapies that selectively target diseased tissues while minimizing systemic immunosuppression.
The company’s lead programs include an allogeneic Treg candidate in clinical development for ulcerative colitis, with additional preclinical assets focused on rheumatoid arthritis and other chronic inflammatory conditions.