Kyntra Bio (NASDAQ:KYNB) Rating Increased to Strong-Buy at Lake Street Capital

Lake Street Capital upgraded shares of Kyntra Bio (NASDAQ:KYNB) to a strong-buy rating in a research note released on Thursday,Zacks reports.

KYNB has been the subject of a number of other research reports. Oppenheimer started coverage on Kyntra Bio in a research note on Monday, July 6th. They issued an “outperform” rating and a $35.00 target price for the company. Rodman & Renshaw initiated coverage on Kyntra Bio in a report on Tuesday, June 9th. They issued a “buy” rating and a $30.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $43.00 price objective on shares of Kyntra Bio in a research report on Tuesday, September 1st. Finally, Weiss Ratings upgraded shares of Kyntra Bio from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Kyntra Bio Stock Performance

Kyntra Bio stock opened at $7.10 on Thursday. The stock’s 50 day simple moving average is $7.46 and its two-hundred day simple moving average is $7.18. The stock has a market cap of $28.75 million, a price-to-earnings ratio of 0.16 and a beta of 1.06. Kyntra Bio has a fifty-two week low of $6.32 and a fifty-two week high of $12.58.

Institutional Trading of Kyntra Bio

A hedge fund recently bought a new position in Kyntra Bio stock. ADAR1 Capital Management LLC purchased a new position in Kyntra Bio Inc (NASDAQ:KYNB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,469 shares of the company’s stock, valued at approximately $71,000. ADAR1 Capital Management LLC owned about 0.26% of Kyntra Bio as of its most recent SEC filing. 72.71% of the stock is currently owned by hedge funds and other institutional investors.

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.