Millennium Management LLC Boosts Holdings in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Millennium Management LLC raised its holdings in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) by 32.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 923,082 shares of the company’s stock after acquiring an additional 227,988 shares during the quarter. Millennium Management LLC’s holdings in Kyverna Therapeutics were worth $6,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in KYTX. Price T Rowe Associates Inc. MD acquired a new stake in shares of Kyverna Therapeutics in the first quarter worth approximately $23,093,000. Jennison Associates LLC acquired a new stake in shares of Kyverna Therapeutics in the first quarter worth approximately $34,743,000. Great Point Partners LLC boosted its position in shares of Kyverna Therapeutics by 232.8% in the second quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock worth $3,744,000 after acquiring an additional 349,152 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Kyverna Therapeutics in the second quarter worth approximately $1,421,000. Finally, Janus Henderson Group PLC acquired a new position in Kyverna Therapeutics during the first quarter valued at approximately $15,041,000. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

Kyverna Therapeutics Price Performance

Shares of KYTX opened at $4.55 on Friday. Kyverna Therapeutics, Inc. has a 1 year low of $4.40 and a 1 year high of $35.06. The firm has a fifty day moving average of $6.61 and a 200-day moving average of $11.46.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.03. Analysts expect that Kyverna Therapeutics, Inc. will post -3.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KYTX. UBS Group began coverage on shares of Kyverna Therapeutics in a research report on Thursday. They set a “buy” rating and a $13.00 price target on the stock. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a research report on Wednesday. They set a “buy” rating and a $16.00 target price on the stock. RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday. HC Wainwright reissued a “neutral” rating and set a $7.00 target price on shares of Kyverna Therapeutics in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $28.71.

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.