Renaissance Technologies LLC Grows Stock Holdings in Kyverna Therapeutics, Inc. $KYTX

Key Points

• Renaissance Technologies more than doubled its Kyverna Therapeutics stake in the first quarter, adding 189,593 shares to own 367,492 shares worth approximately $3.17 million. Institutional and hedge-fund ownership now totals 18.08%.
• Analyst sentiment remains generally positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $30. JPMorgan set a $29 target, while HC Wainwright maintained a $25 target.
• KYTX opened at $7.96, well below its consensus target, while the clinical-stage biotech reported a quarterly loss of $0.66 per share—better than the expected $0.75 loss. Kyverna is developing engineered regulatory T-cell therapies for autoimmune and inflammatory diseases.

Renaissance Technologies LLC grew its position in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) by 106.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 367,492 shares of the company's stock after purchasing an additional 189,593 shares during the period. Renaissance Technologies LLC owned about 0.60% of Kyverna Therapeutics worth $3,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KYTX. AIGH Capital Management LLC raised its holdings in shares of Kyverna Therapeutics by 33.3% during the 1st quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company's stock valued at $17,260,000 after buying an additional 500,000 shares in the last quarter. RFG Advisory LLC purchased a new stake in Kyverna Therapeutics in the fourth quarter worth approximately $4,185,000. Simplify Asset Management Inc. bought a new position in Kyverna Therapeutics during the fourth quarter valued at approximately $1,808,000. Maven Securities LTD purchased a new position in shares of Kyverna Therapeutics during the fourth quarter worth approximately $1,376,000. Finally, Monashee Investment Management LLC purchased a new position in shares of Kyverna Therapeutics during the fourth quarter worth approximately $1,833,000. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Kyverna Therapeutics Stock Performance

Shares of KYTX stock opened at $7.96 on Friday. The company has a market capitalization of $483.93 million, a P/E ratio of -2.43 and a beta of 1.93. Kyverna Therapeutics, Inc. has a fifty-two week low of $2.80 and a fifty-two week high of $13.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 8.15 and a current ratio of 8.15. The stock has a 50 day moving average price of $8.06 and a two-hundred day moving average price of $8.48.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.09. Analysts expect that Kyverna Therapeutics, Inc. will post -2.78 earnings per share for the current year.

About Kyverna Therapeutics

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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