Point72 Asset Management L.P. Invests $169,000 in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Point72 Asset Management L.P. purchased a new stake in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,482 shares of the company’s stock, valued at approximately $169,000. Point72 Asset Management L.P. owned 0.08% of Kyverna Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FMR LLC bought a new position in shares of Kyverna Therapeutics during the 3rd quarter valued at approximately $33,000. Creative Planning purchased a new position in Kyverna Therapeutics in the third quarter valued at approximately $54,000. Jacobs Levy Equity Management Inc. bought a new position in Kyverna Therapeutics during the third quarter valued at $97,000. Federated Hermes Inc. purchased a new stake in Kyverna Therapeutics in the second quarter worth $120,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Kyverna Therapeutics by 2,166.4% in the third quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company’s stock valued at $133,000 after buying an additional 25,997 shares during the period. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KYTX. Rodman & Renshaw began coverage on Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 price target for the company. UBS Group started coverage on shares of Kyverna Therapeutics in a research report on Thursday, October 10th. They set a “buy” rating and a $13.00 target price for the company. HC Wainwright lowered their price target on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $25.71.

Kyverna Therapeutics Stock Down 0.9 %

Shares of NASDAQ:KYTX opened at $4.42 on Friday. The company has a 50 day moving average of $5.00 and a 200 day moving average of $7.26. Kyverna Therapeutics, Inc. has a 12 month low of $3.92 and a 12 month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.01. The firm had revenue of $0.01 million for the quarter. On average, research analysts expect that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current fiscal year.

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.