Millennium Management LLC Reduces Stock Position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Millennium Management LLC reduced its position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) by 40.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 746,521 shares of the company's stock after selling 507,035 shares during the quarter. Millennium Management LLC owned 1.73% of Kyverna Therapeutics worth $2,792,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new stake in Kyverna Therapeutics in the fourth quarter worth approximately $34,000. Corton Capital Inc. bought a new stake in shares of Kyverna Therapeutics in the 4th quarter worth approximately $45,000. Corebridge Financial Inc. boosted its stake in shares of Kyverna Therapeutics by 42.3% in the 4th quarter. Corebridge Financial Inc. now owns 12,811 shares of the company's stock valued at $48,000 after purchasing an additional 3,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Kyverna Therapeutics by 53.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company's stock valued at $53,000 after purchasing an additional 4,990 shares during the last quarter. Finally, Bank of America Corp DE raised its position 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 purchasing an additional 6,400 shares during the period. 18.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KYTX. HC Wainwright upgraded Kyverna Therapeutics from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $4.00 to $5.00 in a report on Tuesday, May 27th. Morgan Stanley reduced their price target on Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $18.50.

Kyverna Therapeutics Trading Up 2.2%

KYTX traded up $0.06 during midday trading on Wednesday, reaching $2.85. The company's stock had a trading volume of 211,646 shares, compared to its average volume of 414,933. The stock's 50-day moving average is $2.15 and its 200-day moving average is $3.05. Kyverna Therapeutics, Inc. has a 1 year low of $1.78 and a 1 year high of $16.64. The firm has a market capitalization of $123.17 million, a price-to-earnings ratio of -0.84 and a beta of 2.52.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.21) by $0.18. As a group, equities research analysts forecast that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current fiscal year.

About Kyverna Therapeutics

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.