The Manufacturers Life Insurance Company Raises Stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

The Manufacturers Life Insurance Company grew its holdings in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) by 32.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 37,794 shares of the company’s stock after acquiring an additional 9,300 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Kyverna Therapeutics were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KYTX. Price T Rowe Associates Inc. MD bought a new stake in Kyverna Therapeutics in the first quarter worth $23,093,000. Jennison Associates LLC bought a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at about $34,743,000. E Fund Management Co. Ltd. purchased a new stake in Kyverna Therapeutics during the 2nd quarter valued at about $1,421,000. Great Point Partners LLC grew its position in Kyverna Therapeutics by 232.8% during the 2nd 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. Finally, Janus Henderson Group PLC purchased a new position in Kyverna Therapeutics in the 1st quarter worth approximately $15,041,000. 18.08% of the stock is currently owned by institutional investors.

Kyverna Therapeutics Price Performance

Shares of NASDAQ:KYTX opened at $5.65 on Friday. The stock has a 50 day moving average price of $6.46 and a 200-day moving average price of $10.81. Kyverna Therapeutics, Inc. has a 52-week low of $4.40 and a 52-week high of $35.06.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. RODMAN&RENSHAW upgraded shares of Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. HC Wainwright reissued a “neutral” rating and issued a $7.00 price target on shares of Kyverna Therapeutics in a report on Thursday, September 19th. JPMorgan Chase & Co. lowered their price objective 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. Rodman & Renshaw assumed coverage on Kyverna Therapeutics in a report on Wednesday, October 9th. They set a “buy” rating and a $16.00 price target on the stock. Finally, UBS Group initiated coverage on Kyverna Therapeutics in a report on Thursday, October 10th. They issued a “buy” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $28.71.

About Kyverna Therapeutics

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.