Man Group plc Invests $612,000 in Kyverna Therapeutics, Inc. $KYTX

Man Group plc acquired a new stake in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 68,640 shares of the company’s stock, valued at approximately $612,000. Man Group plc owned 0.11% of Kyverna Therapeutics at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in shares of Kyverna Therapeutics during the second quarter valued at $36,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Kyverna Therapeutics in the 3rd quarter worth about $28,000. Grey Ledge Advisors LLC bought a new stake in Kyverna Therapeutics in the 1st quarter valued at about $86,000. EntryPoint Capital LLC bought a new stake in Kyverna Therapeutics in the 4th quarter valued at about $94,000. Finally, State of Wyoming acquired a new position in Kyverna Therapeutics during the 2nd quarter valued at about $97,000. 18.08% of the stock is currently owned by institutional investors.

Kyverna Therapeutics Price Performance

Shares of NASDAQ:KYTX opened at $8.35 on Friday. The stock has a market cap of $516.36 million, a price-to-earnings ratio of -2.84 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 9.06 and a quick ratio of 9.06. Kyverna Therapeutics, Inc. has a 12 month low of $3.55 and a 12 month high of $13.67. The stock’s 50 day moving average price is $8.20 and its 200 day moving average price is $8.49.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.05. Equities research analysts anticipate that Kyverna Therapeutics, Inc. will post -2.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on KYTX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Wednesday, June 24th. JPMorgan Chase & Co. cut their price target on Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen lowered Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics is a clinical‐stage biotechnology company dedicated to developing engineered regulatory T‐cell (Treg) therapies for the treatment of autoimmune and inflammatory diseases. Leveraging a proprietary platform for the isolation, expansion and modification of Treg cells, the company aims to restore immune homeostasis in patients by delivering antigen‐specific cell therapies that selectively target diseased tissues while minimizing systemic immunosuppression.

The company’s lead programs include an allogeneic Treg candidate in clinical development for ulcerative colitis, with additional preclinical assets focused on rheumatoid arthritis and other chronic inflammatory conditions.