Kyntra Bio (NASDAQ:KYNB) Trading Up 3.3% – Here’s Why

Kyntra Bio Inc (NASDAQ:KYNB)’s stock price rose 3.3% during mid-day trading on Tuesday . The stock traded as high as $7.67 and last traded at $7.55. 12,214 shares were traded during trading, a decline of 65% from the average session volume of 35,096 shares. The stock had previously closed at $7.31.

Analyst Ratings Changes

KYNB has been the subject of a number of analyst reports. Wall Street Zen upgraded Kyntra Bio from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Kyntra Bio in a report on Tuesday, June 16th. Finally, Rodman & Renshaw began coverage on shares of Kyntra Bio in a research note on Tuesday, June 9th. They set a “buy” rating and a $30.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Kyntra Bio Price Performance

The firm has a market cap of $30.90 million, a PE ratio of 0.19 and a beta of 0.96. The company’s 50-day moving average price is $6.99.

Institutional Investors Weigh In On Kyntra Bio

A hedge fund recently bought a new stake in Kyntra Bio stock. Renaissance Technologies LLC bought a new position in Kyntra Bio Inc (NASDAQ:KYNB) in the first quarter, according to its most recent filing with the SEC. The firm bought 27,481 shares of the company’s stock, valued at approximately $186,000. Renaissance Technologies LLC owned approximately 0.68% of Kyntra Bio as of its most recent SEC filing. Institutional investors own 72.71% of the company’s stock.

Kyntra Bio Company Profile

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States, Europe, China, and Japan; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.