Kyverna Therapeutics, Inc. $KYTX Stock: AIGH Capital Management LLC Grows Holdings

Key Points

• AIGH Capital increased its Kyverna Therapeutics stake by 30.6% in the third quarter, adding 854,203 shares to reach 3.65 million shares, or about 5.9% of the company. Institutional investors collectively owned 18.08% of the stock.
• Analyst sentiment was broadly positive: MarketBeat reported a “Moderate Buy” consensus and an average price target of $29, though ratings included one Sell. The stock opened at $4.61, near its 12-month low of $4.49.
• Kyverna reported a quarterly loss of $0.63 per share, beating analysts’ estimate of a $0.68 loss. The clinical-stage biotech is developing CAR T-cell therapies for severe autoimmune diseases, including lupus and multiple sclerosis.

AIGH Capital Management LLC grew its stake in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) by 30.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,650,000 shares of the company's stock after purchasing an additional 854,203 shares during the period. Kyverna Therapeutics comprises approximately 2.5% of AIGH Capital Management LLC's portfolio, making the stock its 13th biggest position. AIGH Capital Management LLC owned about 5.90% of Kyverna Therapeutics worth $24,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE purchased a new position in Kyverna Therapeutics during the 2nd quarter worth $2,365,000. Walleye Capital LLC bought a new stake in shares of Kyverna Therapeutics in the 2nd quarter worth $2,188,000. BlackRock Inc. purchased a new stake in shares of Kyverna Therapeutics in the second quarter valued at about $27,931,000. Renaissance Technologies LLC raised its holdings in shares of Kyverna Therapeutics by 106.6% in the first quarter. Renaissance Technologies LLC now owns 367,492 shares of the company's stock valued at $3,171,000 after purchasing an additional 189,593 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Kyverna Therapeutics in the second quarter valued at about $1,046,000. 18.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on KYTX shares. HC Wainwright restated a "buy" rating on shares of Kyverna Therapeutics in a report on Thursday, October 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kyverna Therapeutics in a research note on Monday, September 21st. Needham & Company LLC set a $25.00 price objective on shares of Kyverna Therapeutics in a research note on Friday, September 25th. William Blair raised shares of Kyverna Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 23rd. Finally, Benchmark restated a "buy" rating on shares of Kyverna Therapeutics in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

Kyverna Therapeutics Trading Down 10.7%

NASDAQ:KYTX opened at $4.61 on Friday. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.15. The firm's 50 day moving average is $6.63 and its 200 day moving average is $8.01. Kyverna Therapeutics, Inc. has a 12 month low of $4.49 and a 12 month high of $13.67.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.05. Equities research analysts expect that Kyverna Therapeutics, Inc. will post -2.70 earnings per share for the current fiscal year.

Kyverna Therapeutics Profile

Kyverna Therapeutics is a clinical-stage biotechnology company developing engineered T-cell therapies for patients with severe autoimmune diseases. The company's approach is designed to selectively eliminate disease-causing B cells, which play a central role in many autoimmune disorders, with the goal of achieving deep and durable disease remission.

Kyverna's lead investigational product, KYV-101, is an autologous CD19-directed chimeric antigen receptor (CAR) T-cell therapy. The treatment is being evaluated in clinical studies for conditions including lupus nephritis, systemic sclerosis, multiple sclerosis and other serious autoimmune diseases.

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