HC Wainwright Begins Coverage on Kyverna Therapeutics (NASDAQ:KYTX)

Equities researchers at HC Wainwright began coverage on shares of Kyverna Therapeutics (NASDAQ:KYTX) in a research note issued on Wednesday, Briefing.com reports. The brokerage set a “neutral” rating and a $8.00 price target on the stock. HC Wainwright’s price target would suggest a potential downside of 0.62% from the stock’s previous close.

Kyverna Therapeutics Trading Up 3.1 %

Shares of NASDAQ KYTX opened at $8.05 on Wednesday. Kyverna Therapeutics has a fifty-two week low of $6.75 and a fifty-two week high of $35.06. The firm has a 50 day simple moving average of $12.52.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.28). During the same quarter in the prior year, the business earned ($12.10) earnings per share. Research analysts predict that Kyverna Therapeutics will post -3.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in Kyverna Therapeutics in the first quarter worth $181,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at $313,000. Artal Group S.A. acquired a new stake in Kyverna Therapeutics during the 1st quarter worth $4,968,000. Janus Henderson Group PLC acquired a new stake in Kyverna Therapeutics during the 1st quarter worth $15,041,000. Finally, Bain Capital Life Sciences Investors LLC bought a new position in Kyverna Therapeutics during the first quarter worth about $78,590,000. Institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing cell therapies for patients suffering from autoimmune diseases. Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the treatment of patients with lupus nephritis and systemic sclerosis that is in Phase I clinical trial; and for myasthenia gravis and multiple sclerosis that is in Phase II clinical trial.