The Manufacturers Life Insurance Company Acquires New Shares in Kyverna Therapeutics, Inc. $KYTX

The Manufacturers Life Insurance Company bought a new stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) during the second quarter, Holdings Channel reports. The institutional investor bought 82,207 shares of the company’s stock, valued at approximately $732,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KYTX. Public Employees Retirement System of Ohio acquired a new stake in shares of Kyverna Therapeutics during the 3rd quarter valued at about $28,000. Qube Research & Technologies Ltd bought a new stake in shares of Kyverna Therapeutics in the 2nd quarter valued at approximately $43,000. Rhumbline Advisers increased its holdings in Kyverna Therapeutics by 22.0% in the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock worth $61,000 after buying an additional 5,694 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Kyverna Therapeutics in the third quarter worth approximately $77,000. Finally, Bank of America Corp DE raised its position in Kyverna Therapeutics by 41.6% during the fourth quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock valued at $81,000 after acquiring an additional 6,400 shares in the last quarter. 18.08% of the stock is owned by hedge funds and other institutional investors.

Kyverna Therapeutics Stock Down 1.2%

Shares of KYTX stock opened at $8.25 on Friday. The stock’s 50 day simple moving average is $8.20 and its 200 day simple moving average is $8.48. Kyverna Therapeutics, Inc. has a twelve month low of $3.60 and a twelve month high of $13.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 9.06 and a current ratio of 9.06. The company has a market capitalization of $510.18 million, a price-to-earnings ratio of -2.81 and a beta of 1.98.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Wednesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. As a group, research analysts predict that Kyverna Therapeutics, Inc. will post -2.7 EPS for the current year.

Wall Street Analyst Weigh In

KYTX has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. dropped their price target on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Kyverna Therapeutics currently has a consensus 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.