Maxim Group Begins Coverage on Kyntra Bio (NASDAQ:KYNB)

Investment analysts at Maxim Group initiated coverage on shares of Kyntra Bio (NASDAQ:KYNB) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Maxim Group’s price target would suggest a potential upside of 471.90% from the stock’s previous close.

KYNB has been the topic of several other reports. Lake Street Capital assumed coverage on shares of Kyntra Bio in a research report on Thursday, September 17th. They set a “buy” rating and a $41.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $43.00 target price on shares of Kyntra Bio in a research note on Tuesday, September 1st. Weiss Ratings lowered Kyntra Bio from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. Finally, Oppenheimer began coverage on Kyntra Bio in a report on Monday, July 6th. They issued an “outperform” rating and a $35.00 target price for the company. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.80.

Kyntra Bio Stock Performance

Shares of NASDAQ:KYNB opened at $6.12 on Tuesday. The company has a market cap of $24.79 million, a PE ratio of 0.14 and a beta of 1.05. Kyntra Bio has a 52 week low of $5.62 and a 52 week high of $11.65. The firm has a 50 day simple moving average of $7.29 and a 200 day simple moving average of $7.13.

Hedge Funds Weigh In On Kyntra Bio

A hedge fund recently bought a new position in Kyntra Bio stock. ADAR1 Capital Management LLC purchased a new position in Kyntra Bio Inc (NASDAQ:KYNB) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,469 shares of the company’s stock, valued at approximately $71,000. ADAR1 Capital Management LLC owned approximately 0.26% of Kyntra Bio at the end of the most recent reporting period. 72.71% of the stock is currently owned by institutional investors and hedge funds.

About Kyntra Bio

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States, Europe, China, and Japan; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.