Stifel Financial Corp Buys New Position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Stifel Financial Corp bought a new position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,342 shares of the company’s stock, valued at approximately $147,000. Stifel Financial Corp owned about 0.09% of Kyverna Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. acquired a new position in shares of Kyverna Therapeutics during the fourth quarter valued at approximately $34,000. Corebridge Financial Inc. increased its stake in Kyverna Therapeutics by 42.3% during the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock worth $48,000 after acquiring an additional 3,810 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Kyverna Therapeutics by 31.1% during the fourth quarter. Rhumbline Advisers now owns 25,920 shares of the company’s stock worth $97,000 after buying an additional 6,153 shares during the period. Norges Bank purchased a new position in shares of Kyverna Therapeutics during the fourth quarter worth $150,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Kyverna Therapeutics during the fourth quarter worth $167,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Price Performance

Shares of Kyverna Therapeutics stock opened at $2.18 on Friday. The business has a 50-day moving average of $2.15 and a 200-day moving average of $3.30. The company has a market capitalization of $94.22 million, a PE ratio of -0.63 and a beta of 2.17. Kyverna Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $17.06.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its earnings results on Tuesday, May 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.18. On average, equities analysts expect that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KYTX. Morgan Stanley reduced their price target on Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 1st. HC Wainwright cut their target price on Kyverna Therapeutics from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kyverna Therapeutics currently has a consensus rating of “Buy” and an average price target of $18.33.

Kyverna Therapeutics Company 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.