Monitor for any future conversion of this 13G to a 13D, which would signal activist intent. The presence of multiple large passive holders (Bain, Northpond, Hirschman) increases the likelihood of coordinated pressure if the stock underperforms, but no such activity is currently indicated.
Price Chart
Executive Summary
Orin Hirschman, through AIGH Capital Management LLC and related entities, disclosed a passive 5.9% stake in Kyverna Therapeutics via a new Schedule 13G, reporting beneficial ownership of 3,650,000 common shares as of September 30, 2026. This is a new passive filing with no intent to influence control, and the stake size is notable but not transformative for a clinical-stage biotech.
Key Financial Metrics
Key Facts
- Orin Hirschman filed a new Schedule 13G disclosing beneficial ownership of 3,650,000 shares of Kyverna Therapeutics common stock.
- The stake represents 5.9% of shares outstanding as of September 30, 2026.
- The filing is passive under Rule 13d-1(b), with no intent to change or influence control.
- Reporting persons include AIGH Capital Management LLC (investment adviser), AIGH Investment Partners LLC, and Orin Hirschman individually.
- Prior cross-filings show Bain Capital Life Sciences and Northpond Ventures also hold passive stakes, but no activist activity is indicated.
Financial Impact
Passive 5.9% stake valued at approximately $3,650,000 shares — no immediate financial impact on the company.
Risk Factors
- Potential future conversion to activist 13D if Hirschman or AIGH changes intent.
- Concentrated ownership among several large passive holders could lead to coordinated selling pressure.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G Filing (Primary) | 0001493152-26-047551 |
| Document: 0001493152-26-047551-index.html | 0001493152-26-047551 |
| Document: 0001493152-26-047551.txt | 0001493152-26-047551 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | SC 13G | $5.83 $6.04 | ▲ +3.60% | ▲ +3.27% | $5.27 (−9.61%) |
Sep 24, 2026 4w ago | 8-K | $6.99 $6.81 | ▼ −2.58% | ▼ −3.12% | $5.27 (−24.61%) |
Aug 11, 2026 11w ago | 8-K | $8.05 $8.08 | ▲ +0.37% | ▼ −0.33% | $5.27 (−34.53%) |
Aug 11, 2026 11w ago | Press Release | $8.05 $8.08 | ▲ +0.37% | ▼ −0.33% | $5.27 (−34.53%) |
Jul 27, 2026 13w ago | 8-K | $7.92 $7.49 | ▼ −5.43% | ▼ −5.67% | $5.27 (−33.46%) |
Jul 9, 2026 15w ago | 8-K | $9.81 $8.49 | ▼ −13.51% | ▼ −13.94% | $5.27 (−46.28%) |
Jun 11, 2026 19w ago | Institutional Cluster | $8.06 $8.15 | ▼ −1.18% | ▲ +0.58% | $5.27 (+34.57%) |
May 4, 2026 25w ago | 8-K | $9.00 $9.21 | ▲ +2.33% | ▲ +1.54% | $5.27 (−41.44%) |
Apr 22, 2026 26w ago | 8-K | $10.23 $8.95 | ▼ −12.51% | ▼ −12.12% | $5.27 (−48.48%) |
Apr 20, 2026 27w ago | Press Release | $11.25 $9.71 | ▼ −13.69% | ▼ −13.04% | $5.27 (−53.16%) |
US Market Status
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