Propel Bio Management LLC Makes New Investment in Kyverna Therapeutics, Inc. $KYTX

Propel Bio Management LLC acquired a new position in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 666,666 shares of the company’s stock, valued at approximately $6,267,000. Kyverna Therapeutics makes up 5.4% of Propel Bio Management LLC’s portfolio, making the stock its 6th largest holding. Propel Bio Management LLC owned about 1.52% of Kyverna Therapeutics at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KYTX. Bank of America Corp DE grew its holdings in Kyverna Therapeutics by 41.6% during the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock worth $81,000 after acquiring an additional 6,400 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Kyverna Therapeutics by 31.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company’s stock valued at $132,000 after buying an additional 16,267 shares during the period. AQR Capital Management LLC acquired a new position in shares of Kyverna Therapeutics in the 1st quarter valued at about $137,000. Rhumbline Advisers boosted its holdings in shares of Kyverna Therapeutics by 22.0% in the 1st quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock valued at $61,000 after buying an additional 5,694 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Kyverna Therapeutics in the 2nd quarter valued at about $107,000. 18.08% of the stock is owned by institutional investors and hedge funds.

Kyverna Therapeutics Trading Down 6.0%

Kyverna Therapeutics stock opened at $7.47 on Friday. The company has a quick ratio of 8.15, a current ratio of 8.15 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $9.02 and a two-hundred day moving average price of $8.53. The firm has a market capitalization of $454.10 million, a price-to-earnings ratio of -2.28 and a beta of 1.95. Kyverna Therapeutics, Inc. has a 52-week low of $2.52 and a 52-week high of $13.67.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.09. Sell-side analysts expect that Kyverna Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KYTX. Wall Street Zen lowered shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Friday, March 27th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Kyverna Therapeutics in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.