Wesbanco Bank Inc. acquired a new position in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX – Free Report) during the 1st quarter, Holdings Channel.com reports. The firm acquired 110,300 shares of the company’s stock, valued at approximately $952,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Kyverna Therapeutics during the fourth quarter worth $15,667,000. AIGH Capital Management LLC bought a new stake in shares of Kyverna Therapeutics during the 4th quarter valued at about $14,100,000. Balyasny Asset Management L.P. acquired a new stake in Kyverna Therapeutics during the fourth quarter worth about $9,220,000. Propel Bio Management LLC acquired a new stake in Kyverna Therapeutics during the fourth quarter worth about $6,267,000. Finally, Alyeska Investment Group L.P. bought a new position in Kyverna Therapeutics in the fourth quarter worth about $5,640,000. Institutional investors and hedge funds own 18.08% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on KYTX shares. Wall Street Zen lowered Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Kyverna Therapeutics in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.
Kyverna Therapeutics Stock Performance
NASDAQ:KYTX opened at $8.44 on Monday. The stock has a market cap of $513.07 million, a price-to-earnings ratio of -2.57 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 8.15 and a current ratio of 8.15. Kyverna Therapeutics, Inc. has a 1 year low of $2.52 and a 1 year high of $13.67. The business has a fifty day moving average of $8.79 and a 200-day moving average of $8.60.
Kyverna Therapeutics (NASDAQ:KYTX – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.09. Equities analysts predict that Kyverna Therapeutics, Inc. will post -2.78 earnings per share 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.
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