Wellington Management Group LLP Buys New Shares in Kyverna Therapeutics, Inc. $KYTX

Wellington Management Group LLP purchased a new stake in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 117,442 shares of the company’s stock, valued at approximately $1,046,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new position in shares of Kyverna Therapeutics in the 2nd quarter worth about $2,365,000. Man Group plc purchased a new position in shares of Kyverna Therapeutics during the 2nd quarter valued at about $612,000. Canada Pension Plan Investment Board bought a new stake in Kyverna Therapeutics in the 2nd quarter worth approximately $356,000. Legal & General Group Plc bought a new stake in Kyverna Therapeutics in the 2nd quarter worth approximately $36,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Kyverna Therapeutics in the second quarter worth approximately $732,000. Institutional investors own 18.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen cut shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Kyverna Therapeutics in a report on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Kyverna Therapeutics Stock Down 1.2%

KYTX opened at $7.26 on Friday. The company has a market cap of $448.98 million, a P/E ratio of -2.47 and a beta of 1.98. The business’s 50-day moving average price is $8.09 and its 200-day moving average price is $8.49. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.15. Kyverna Therapeutics, Inc. has a 12 month low of $3.78 and a 12 month high of $13.67.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.05. On average, equities analysts expect that Kyverna Therapeutics, Inc. will post -2.7 EPS for the current year.

Kyverna Therapeutics 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.