Kyntra Bio (NASDAQ:KYNB) Trading Down 1.5% – Here’s Why

Shares of Kyntra Bio Inc (NASDAQ:KYNB) were down 1.5% during trading on Friday . The company traded as low as $6.65 and last traded at $6.71. Approximately 6,835 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 8,230 shares. The stock had previously closed at $6.81.

Analyst Ratings Changes

A number of research analysts have recently commented on KYNB shares. Wall Street Zen raised shares of Kyntra Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Zacks Research cut shares of Kyntra Bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, HC Wainwright raised shares of Kyntra Bio to a “strong-buy” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Kyntra Bio Stock Performance

The company has a fifty day moving average price of $7.00. The company has a market capitalization of $27.18 million, a PE ratio of 0.17 and a beta of 1.01.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Kyntra Bio stock. Renaissance Technologies LLC acquired a new stake in Kyntra Bio Inc (NASDAQ:KYNB) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,481 shares of the company’s stock, valued at approximately $186,000. Renaissance Technologies LLC owned about 0.68% of Kyntra Bio at the end of the most recent reporting period. 72.71% of the stock is owned by institutional investors and hedge funds.

About Kyntra Bio

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.