Verition Fund Management LLC Invests $218,000 in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Verition Fund Management LLC purchased a new stake in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 44,626 shares of the company’s stock, valued at approximately $218,000. Verition Fund Management LLC owned approximately 0.10% of Kyverna Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of KYTX. Novo Holdings A S increased its holdings in Kyverna Therapeutics by 150.0% during the 2nd quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after purchasing an additional 1,050,000 shares during the period. Deerfield Management Company L.P. Series C grew its position in shares of Kyverna Therapeutics by 35.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after buying an additional 520,663 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of Kyverna Therapeutics during the second quarter valued at $3,076,000. Great Point Partners LLC raised its holdings in shares of Kyverna Therapeutics by 232.8% in the second quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock valued at $3,744,000 after acquiring an additional 349,152 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Kyverna Therapeutics by 32.8% in the second quarter. Millennium Management LLC now owns 923,082 shares of the company’s stock worth $6,923,000 after acquiring an additional 227,988 shares during the period. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. HC Wainwright dropped their target price on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. RODMAN&RENSHAW upgraded shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. Rodman & Renshaw started coverage on shares of Kyverna Therapeutics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price objective for the company. UBS Group began coverage on Kyverna Therapeutics in a report on Thursday, October 10th. They set a “buy” rating and a $13.00 target price for the company. Finally, Wells Fargo & Company cut their price target on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. One investment 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 company. Based on data from MarketBeat, Kyverna Therapeutics currently has a consensus rating of “Buy” and an average price target of $25.71.

Kyverna Therapeutics Stock Down 0.9 %

NASDAQ KYTX opened at $4.42 on Monday. The firm’s fifty day simple moving average is $5.00 and its two-hundred day simple moving average is $7.16. Kyverna Therapeutics, Inc. has a 12-month low of $3.92 and a 12-month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.01. The business had revenue of $0.01 million during the quarter. On average, analysts predict that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current fiscal year.

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.