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

Renaissance Technologies LLC raised its holdings in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) by 106.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,492 shares of the company’s stock after purchasing an additional 189,593 shares during the period. Renaissance Technologies LLC’s holdings in Kyverna Therapeutics were worth $3,171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Kyverna Therapeutics by 41.6% in the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock worth $81,000 after buying an additional 6,400 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Kyverna Therapeutics by 31.1% in the first quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company’s stock worth $132,000 after acquiring an additional 16,267 shares during the period. AQR Capital Management LLC purchased a new stake in Kyverna Therapeutics in the first quarter worth $137,000. Rhumbline Advisers boosted its holdings in Kyverna Therapeutics by 22.0% in the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock valued at $61,000 after acquiring an additional 5,694 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Kyverna Therapeutics in the second quarter valued at $107,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Stock Performance

Shares of KYTX stock opened at $7.96 on Friday. The company’s fifty day moving average price is $8.06 and its 200-day moving average price is $8.48. The stock has a market cap of $483.93 million, a PE ratio of -2.43 and a beta of 1.93. The company has a current ratio of 8.15, a quick ratio of 8.15 and a debt-to-equity ratio of 0.13. Kyverna Therapeutics, Inc. has a 12 month low of $2.80 and a 12 month high of $13.67.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly 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. On average, equities analysts expect that Kyverna Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on KYTX shares. JPMorgan Chase & Co. decreased their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kyverna Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Kyverna Therapeutics Profile

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.