Kyntra Bio (NASDAQ:KYNB) Stock Price Up 3.3% – Time to Buy?

Kyntra Bio Inc (NASDAQ:KYNB) shares shot up 3.3% during trading on Tuesday . The stock traded as high as $7.67 and last traded at $7.55. Approximately 12,214 shares traded hands during mid-day 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 topic of several analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Kyntra Bio in a research note on Tuesday, June 16th. Wall Street Zen raised Kyntra Bio from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Rodman & Renshaw assumed coverage on Kyntra Bio in a report on Tuesday, June 9th. They issued 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Kyntra Bio currently has an average rating of “Moderate Buy” and an average price target of $30.00.

Kyntra Bio Stock Up 3.3%

The stock has a market capitalization of $30.58 million, a PE ratio of 0.19 and a beta of 1.01. The company has a 50 day moving average price of $6.97.

Institutional Trading of Kyntra Bio

A hedge fund recently bought a new position in Kyntra Bio stock. Renaissance Technologies LLC bought a new stake in shares of Kyntra Bio Inc (NASDAQ:KYNB) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,481 shares of the company’s stock, valued at approximately $186,000. Renaissance Technologies LLC owned 0.68% of Kyntra Bio at the end of the most recent quarter. 72.71% of the stock is currently owned by 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.