Insider Buying: Kyverna Therapeutics (NASDAQ:KYTX) Director Acquires $999,997.50 in Stock

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Director Beth Seidenberg bought 133,333 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were bought at an average price of $7.50 per share, for a total transaction of $999,997.50. Following the completion of the acquisition, the director owned 869,317 shares of the company’s stock, valued at approximately $6,519,877.50. This represents a 18.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Kyverna Therapeutics Stock Performance

KYTX opened at $8.98 on Thursday. The company has a market cap of $393.29 million, a PE ratio of -2.41 and a beta of 3.66. The stock has a 50-day moving average of $7.49 and a 200-day moving average of $5.31. Kyverna Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $13.67.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Wednesday, November 12th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.12. On average, research analysts predict that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KYTX shares. HC Wainwright raised their target price on shares of Kyverna Therapeutics from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Wall Street Zen raised Kyverna Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Monday. Wells Fargo & Company increased their target price on Kyverna Therapeutics from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Morgan Stanley set a $33.00 target price on Kyverna Therapeutics in a report on Monday, December 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.67.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of institutional investors have recently added to or reduced their stakes in KYTX. Jacobs Levy Equity Management Inc. bought a new position in Kyverna Therapeutics during the third quarter valued at about $886,000. Woodline Partners LP acquired a new stake in shares of Kyverna Therapeutics during the 3rd quarter worth approximately $1,513,000. Qube Research & Technologies Ltd increased its position in shares of Kyverna Therapeutics by 161.1% during the third quarter. Qube Research & Technologies Ltd now owns 36,691 shares of the company’s stock valued at $220,000 after purchasing an additional 22,640 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Kyverna Therapeutics in the third quarter valued at $28,000. Finally, Millennium Management LLC lifted its position in Kyverna Therapeutics by 21.9% in the third quarter. Millennium Management LLC now owns 551,635 shares of the company’s stock worth $3,310,000 after purchasing an additional 99,075 shares during the period. 18.08% of the stock is owned by institutional investors and hedge funds.

About Kyverna Therapeutics

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.