82,207 Shares in Kyverna Therapeutics, Inc. $KYTX Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 82,207 shares of the company’s stock, valued at approximately $732,000. The Manufacturers Life Insurance Company owned about 0.13% of Kyverna Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Kyverna Therapeutics in the second quarter valued at approximately $27,931,000. AIGH Capital Management LLC acquired a new position in shares of Kyverna Therapeutics during the second quarter worth approximately $24,911,000. Adage Capital Partners GP L.L.C. bought a new position in Kyverna Therapeutics in the 4th quarter worth approximately $15,667,000. Balyasny Asset Management L.P. bought a new position in Kyverna Therapeutics in the 4th quarter worth approximately $9,220,000. Finally, Propel Bio Management LLC acquired a new stake in Kyverna Therapeutics in the 4th quarter valued at approximately $6,267,000. 18.08% of the stock is owned by institutional investors and hedge funds.

Kyverna Therapeutics Price Performance

NASDAQ KYTX opened at $8.25 on Friday. The stock has a market capitalization of $510.18 million, a P/E ratio of -2.81 and a beta of 1.98. Kyverna Therapeutics, Inc. has a 1 year low of $3.60 and a 1 year high of $13.67. The business’s fifty day moving average is $8.20 and its two-hundred day moving average is $8.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 9.06 and a current ratio of 9.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.05. On average, research analysts forecast that Kyverna Therapeutics, Inc. will post -2.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KYTX. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their price target on Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen lowered Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.00.

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.