Gilead Sciences Inc. Purchases New Position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Gilead Sciences Inc. purchased a new position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,126,119 shares of the company's stock, valued at approximately $15,432,000. Kyverna Therapeutics comprises about 1.0% of Gilead Sciences Inc.'s investment portfolio, making the stock its 6th biggest holding. Gilead Sciences Inc. owned 9.56% of Kyverna Therapeutics as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of KYTX. FMR LLC purchased a new stake in Kyverna Therapeutics during the third quarter valued at approximately $33,000. China Universal Asset Management Co. Ltd. bought a new position in Kyverna Therapeutics in the 4th quarter worth $34,000. Corebridge Financial Inc. grew its holdings 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 purchasing an additional 3,810 shares during the period. Rhumbline Advisers increased its position in Kyverna Therapeutics by 31.1% in the fourth quarter. Rhumbline Advisers now owns 25,920 shares of the company's stock worth $97,000 after buying an additional 6,153 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Kyverna Therapeutics by 2,166.4% in the third quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company's stock worth $133,000 after buying an additional 25,997 shares during the period. Institutional investors own 18.08% of the company's stock.

Analyst Upgrades and Downgrades

KYTX has been the subject of a number of recent research reports. HC Wainwright cut their price objective on Kyverna Therapeutics from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley reduced their price objective on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, April 1st. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $18.33.

Kyverna Therapeutics Price Performance

KYTX stock remained flat at $2.10 during mid-day trading on Wednesday. 62,654 shares of the company's stock were exchanged, compared to its average volume of 425,721. Kyverna Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $19.63. The firm has a market cap of $90.76 million, a PE ratio of -0.61 and a beta of 2.57. The company has a 50 day simple moving average of $2.37 and a 200-day simple moving average of $3.64.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.01). As a group, equities analysts anticipate that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current year.

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.