BlackRock Inc. Purchases Shares of 3,134,807 Kyverna Therapeutics, Inc. $KYTX

Key Points

• BlackRock purchased 3.13 million Kyverna Therapeutics shares in the second quarter, valued at approximately $27.9 million and representing a 5.16% stake. Institutional investors collectively own 18.08% of KYTX.
• Analyst sentiment is generally positive, with four Buy ratings and one Sell rating, an overall “Moderate Buy” consensus, and an average price target of $30 versus the stock’s recent price of $8.61.
• Kyverna reported a quarterly loss of $0.63 per share, beating estimates for a $0.68 loss. The clinical-stage biotech is developing engineered regulatory T-cell therapies for autoimmune and inflammatory diseases, including ulcerative colitis.

BlackRock Inc. purchased a new position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,134,807 shares of the company's stock, valued at approximately $27,931,000. BlackRock Inc. owned about 5.16% of Kyverna Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of KYTX. Public Employees Retirement System of Ohio purchased a new stake in shares of Kyverna Therapeutics during the third quarter worth about $28,000. Federated Hermes Inc. raised its position in Kyverna Therapeutics by 36.6% during the 4th quarter. Federated Hermes Inc. now owns 20,705 shares of the company's stock valued at $195,000 after purchasing an additional 5,547 shares during the last quarter. Rhumbline Advisers raised its position in Kyverna Therapeutics by 22.0% during the 1st quarter. Rhumbline Advisers now owns 31,614 shares of the company's stock valued at $61,000 after purchasing an additional 5,694 shares during the last quarter. Bank of America Corp DE lifted its holdings in Kyverna Therapeutics by 41.6% in the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company's stock worth $81,000 after buying an additional 6,400 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Kyverna Therapeutics by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,322,625 shares of the company's stock worth $7,936,000 after buying an additional 9,858 shares during the period. Hedge funds and other institutional investors own 18.08% of the company's stock.

Analyst Upgrades and Downgrades

KYTX has been the topic of several research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Kyverna Therapeutics in a research note on Wednesday, June 24th. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price target on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. cut their price target on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Kyverna Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 30th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.00.

Kyverna Therapeutics Stock Performance

Shares of KYTX stock opened at $8.61 on Thursday. Kyverna Therapeutics, Inc. has a 12 month low of $3.55 and a 12 month high of $13.67. The stock has a market cap of $532.44 million, a PE ratio of -2.93 and a beta of 1.98. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.15. The company's fifty day moving average price is $8.20 and its 200-day moving average price is $8.48.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.05. On average, equities analysts expect that Kyverna Therapeutics, Inc. will post -2.7 EPS for the current fiscal 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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