Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its holdings in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) by 32.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 923,082 shares of the company’s stock after purchasing an additional 227,988 shares during the period. Millennium Management LLC owned about 2.14% of Kyverna Therapeutics worth $6,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KYTX. Bain Capital Life Sciences Investors LLC purchased a new position in Kyverna Therapeutics in the first quarter valued at $78,590,000. Deerfield Management Company L.P. Series C boosted its position in Kyverna Therapeutics by 35.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after acquiring an additional 520,663 shares during the last quarter. Jennison Associates LLC acquired a new position in Kyverna Therapeutics during the first quarter worth about $34,743,000. Price T Rowe Associates Inc. MD acquired a new position in Kyverna Therapeutics during the first quarter worth about $23,093,000. Finally, Janus Henderson Group PLC acquired a new position in Kyverna Therapeutics during the first quarter worth about $15,041,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

Kyverna Therapeutics Trading Up 0.9 %

Shares of NASDAQ:KYTX opened at $4.55 on Friday. Kyverna Therapeutics, Inc. has a 1-year low of $4.40 and a 1-year high of $35.06. The firm has a fifty day moving average price of $6.61 and a 200 day moving average price of $11.46.

Kyverna Therapeutics (NASDAQ:KYTX) last released its earnings results on Monday, August 12th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.03. On average, research analysts forecast that Kyverna Therapeutics, Inc. will post -3.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on KYTX. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a report on Wednesday. They issued a “buy” rating and a $16.00 target price on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $7.00 target price on shares of Kyverna Therapeutics in a research note on Thursday, September 19th. RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday. UBS Group began coverage on shares of Kyverna Therapeutics in a research report on Thursday. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kyverna Therapeutics has a consensus rating of “Buy” and an average price target of $28.71.

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.