Peapod Lane Capital LLC Acquires New Position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Peapod Lane Capital LLC bought a new stake in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 396,221 shares of the company's stock, valued at approximately $765,000. Peapod Lane Capital LLC owned 0.92% of Kyverna Therapeutics at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Kyverna Therapeutics by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 169,780 shares of the company's stock valued at $635,000 after buying an additional 3,145 shares during the last quarter. Corebridge Financial Inc. raised its position in Kyverna Therapeutics by 42.3% during the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company's stock valued at $48,000 after acquiring an additional 3,810 shares in the last quarter. Norges Bank acquired a new position in Kyverna Therapeutics in the fourth quarter valued at approximately $150,000. Wellington Management Group LLP boosted its position in Kyverna Therapeutics by 16.7% in the 4th quarter. Wellington Management Group LLP now owns 274,414 shares of the company's stock worth $1,026,000 after purchasing an additional 39,291 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Kyverna Therapeutics by 21.7% in the 4th quarter. Geode Capital Management LLC now owns 539,682 shares of the company's stock worth $2,019,000 after purchasing an additional 96,370 shares in the last quarter. 18.08% of the stock is owned by hedge funds and other institutional investors.

Kyverna Therapeutics Trading Up 12.9%

NASDAQ:KYTX traded up $0.46 during trading hours on Friday, reaching $4.03. 826,134 shares of the company were exchanged, compared to its average volume of 386,777. The firm has a market cap of $174.18 million, a PE ratio of -1.19 and a beta of 2.95. Kyverna Therapeutics, Inc. has a twelve month low of $1.78 and a twelve month high of $11.40. The stock's 50-day moving average is $2.78 and its 200-day moving average is $2.76.

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

Wall Street Analyst Weigh In

KYTX has been the subject of several recent research reports. HC Wainwright raised shares of Kyverna Therapeutics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $4.00 to $5.00 in a report on Tuesday, May 27th. Morgan Stanley cut their price objective on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $18.50.

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.