Bank of America Corp DE Makes New Investment in Kyverna Therapeutics, Inc. $KYTX

Key Points

• Bank of America purchased 265,405 shares of Kyverna Therapeutics in the second quarter, valued at approximately $2.4 million and representing about 0.43% of the company. Other institutions, including BlackRock and AIGH Capital Management, also initiated positions.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $29.00, despite one sell rating.
• Kyverna shares opened at $6.80, near the lower end of their 52-week range, while the clinical-stage biotech continues developing KYV-101, a CD19-directed CAR T-cell therapy for autoimmune diseases.

Bank of America Corp DE purchased a new stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 265,405 shares of the company's stock, valued at approximately $2,365,000. Bank of America Corp DE owned approximately 0.43% of Kyverna Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Kyverna Therapeutics in the second quarter valued at $27,931,000. AIGH Capital Management LLC acquired a new stake in Kyverna Therapeutics in the 2nd quarter valued at about $24,911,000. Propel Bio Management LLC acquired a new stake in Kyverna Therapeutics in the 4th quarter valued at about $6,267,000. Walleye Capital LLC purchased a new position in Kyverna Therapeutics during the 2nd quarter valued at about $2,188,000. Finally, Monashee Investment Management LLC purchased a new position in Kyverna Therapeutics during the 4th quarter valued at about $1,833,000. Institutional investors and hedge funds own 18.08% of the company's stock.

Wall Street Analyst Weigh In

KYTX has been the topic of several recent research reports. HC Wainwright reaffirmed a "buy" rating on shares of Kyverna Therapeutics in a report on Friday, September 25th. Needham & Company LLC set a $25.00 price objective on shares of Kyverna Therapeutics in a research note on Friday, September 25th. William Blair upgraded Kyverna Therapeutics to a "strong-buy" rating in a report on Wednesday, September 23rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Kyverna Therapeutics in a research report on Monday, September 21st. Finally, Benchmark reissued a "buy" rating on shares of Kyverna Therapeutics in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Kyverna Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

Kyverna Therapeutics Trading Down 0.6%

Shares of Kyverna Therapeutics stock opened at $6.80 on Thursday. Kyverna Therapeutics, Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $13.67. The firm has a market cap of $420.51 million, a PE ratio of -2.31 and a beta of 1.98. The business's fifty day moving average is $7.77 and its two-hundred day moving average is $8.36. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.15.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.68) by $0.05. Analysts anticipate that Kyverna Therapeutics, Inc. will post -2.7 earnings per share for the current year.

About Kyverna Therapeutics

Kyverna Therapeutics is a clinical-stage biotechnology company focused on developing cell therapies for autoimmune diseases. The company is working to apply chimeric antigen receptor T-cell (CAR T) technology, traditionally used in certain blood cancers, to conditions in which the immune system attacks the body's own tissues.

Kyverna's lead investigational product, KYV-101, is an autologous, fully human CD19-directed CAR T-cell therapy designed to eliminate B cells that contribute to autoimmune disease.

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