Affinity Asset Advisors LLC Takes $1.50 Million Position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Affinity Asset Advisors LLC purchased a new stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) during the second quarter, according to its most recent filing with the SEC. The fund purchased 200,000 shares of the company’s stock, valued at approximately $1,500,000. Affinity Asset Advisors LLC owned about 0.46% of Kyverna Therapeutics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Great Point Partners LLC lifted its position 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 worth $3,744,000 after buying an additional 349,152 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Kyverna Therapeutics by 55.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock worth $196,000 after acquiring an additional 9,385 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Kyverna Therapeutics during the 2nd quarter valued at approximately $625,000. E Fund Management Co. Ltd. purchased a new position in shares of Kyverna Therapeutics in the second quarter valued at $1,421,000. Finally, Sofinnova Investments Inc. raised its stake in Kyverna Therapeutics by 378.5% during the second quarter. Sofinnova Investments Inc. now owns 47,850 shares of the company’s stock valued at $359,000 after purchasing an additional 37,850 shares in the last quarter. Institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Price Performance

Shares of NASDAQ KYTX opened at $5.59 on Wednesday. Kyverna Therapeutics, Inc. has a 1 year low of $5.53 and a 1 year high of $35.06. The firm has a 50-day simple moving average of $7.71 and a two-hundred day simple moving average of $13.19.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.03. On average, sell-side analysts expect that Kyverna Therapeutics, Inc. will post -3.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. HC Wainwright restated a “neutral” rating and issued a $7.00 target price on shares of Kyverna Therapeutics in a report on Thursday, September 19th. JPMorgan Chase & Co. lowered their price objective on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Kyverna Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.40.

Kyverna Therapeutics 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.