Geode Capital Management LLC Boosts Position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Geode Capital Management LLC boosted its holdings in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) by 19.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 443,312 shares of the company’s stock after buying an additional 70,714 shares during the period. Geode Capital Management LLC’s holdings in Kyverna Therapeutics were worth $2,168,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KYTX. FMR LLC purchased a new position in Kyverna Therapeutics in the third quarter valued at approximately $33,000. Creative Planning purchased a new stake in shares of Kyverna Therapeutics during the third quarter valued at approximately $54,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Kyverna Therapeutics during the third quarter valued at approximately $97,000. Federated Hermes Inc. purchased a new stake in shares of Kyverna Therapeutics during the second quarter valued at approximately $120,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Kyverna Therapeutics by 2,166.4% during the third quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company’s stock valued at $133,000 after purchasing an additional 25,997 shares during the period. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on KYTX. Rodman & Renshaw began coverage on shares of Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. RODMAN&RENSHAW upgraded shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. HC Wainwright dropped their price objective on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Finally, UBS Group began coverage on shares of Kyverna Therapeutics in a research note on Thursday, October 10th. They set a “buy” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kyverna Therapeutics presently has a consensus rating of “Buy” and an average target price of $25.71.

Kyverna Therapeutics Price Performance

KYTX stock opened at $3.86 on Wednesday. Kyverna Therapeutics, Inc. has a twelve month low of $3.54 and a twelve month high of $35.06. The firm has a 50 day simple moving average of $4.62 and a 200-day simple moving average of $6.24.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.01. The company had revenue of $0.01 million for the quarter. On average, equities analysts anticipate 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.