Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Shares Purchased by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C boosted its stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) by 35.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,983,000 shares of the company’s stock after purchasing an additional 520,663 shares during the period. Deerfield Management Company L.P. Series C owned about 4.60% of Kyverna Therapeutics worth $14,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in Kyverna Therapeutics during the 2nd quarter worth approximately $120,000. Rhumbline Advisers acquired a new position in Kyverna Therapeutics during the 2nd quarter worth $150,000. DekaBank Deutsche Girozentrale acquired a new position in Kyverna Therapeutics during the 1st quarter worth $181,000. Skandinaviska Enskilda Banken AB publ raised its position in Kyverna Therapeutics by 55.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock valued at $196,000 after purchasing an additional 9,385 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Kyverna Therapeutics in the 1st quarter valued at about $313,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. HC Wainwright reiterated a “neutral” rating and set a $7.00 target price on shares of Kyverna Therapeutics in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.40.

Kyverna Therapeutics Trading Down 6.3 %

Shares of NASDAQ:KYTX opened at $5.24 on Thursday. Kyverna Therapeutics, Inc. has a 12 month low of $5.21 and a 12 month high of $35.06. The company’s fifty day moving average price is $7.61 and its 200 day moving average price is $13.14.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results on Monday, August 12th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.03. On average, analysts anticipate that Kyverna Therapeutics, Inc. will post -3.38 EPS for the current fiscal 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.