Verition Fund Management LLC Takes Position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Verition Fund Management LLC bought a new stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,626 shares of the company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Novo Holdings A S increased its holdings in shares of Kyverna Therapeutics by 150.0% in the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock valued at $13,125,000 after purchasing an additional 1,050,000 shares during the period. E Fund Management Co. Ltd. purchased a new stake in Kyverna Therapeutics in the second quarter valued at approximately $1,421,000. Great Point Partners LLC boosted its position in Kyverna Therapeutics by 232.8% in the second quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock valued at $3,744,000 after buying an additional 349,152 shares during the last quarter. TD Asset Management Inc acquired a new position in Kyverna Therapeutics in the 2nd quarter worth approximately $677,000. Finally, Deerfield Management Company L.P. Series C raised its position in Kyverna Therapeutics by 35.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after buying an additional 520,663 shares during the last quarter. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Rodman & Renshaw assumed coverage on shares of Kyverna Therapeutics in a report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price objective on the stock. HC Wainwright lowered their price target on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. UBS Group initiated coverage on Kyverna Therapeutics in a research report on Thursday, October 10th. They set a “buy” rating and a $13.00 price target on the stock. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their target price on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kyverna Therapeutics has a consensus rating of “Buy” and an average price target of $25.71.

Kyverna Therapeutics Price Performance

Shares of KYTX opened at $4.42 on Monday. The stock’s 50 day moving average is $5.00 and its two-hundred day moving average is $7.16. Kyverna Therapeutics, Inc. has a 12 month low of $3.92 and a 12 month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.01. The company had revenue of $0.01 million during the quarter. On average, analysts forecast that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current fiscal year.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing cell therapies for patients suffering from autoimmune diseases. Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the treatment of patients with lupus nephritis and systemic sclerosis that is in Phase I clinical trial; and for myasthenia gravis and multiple sclerosis that is in Phase II clinical trial.