Kyverna Therapeutics (NASDAQ:KYTX) Coverage Initiated at Rodman & Renshaw

Equities researchers at Rodman & Renshaw started coverage on shares of Kyverna Therapeutics (NASDAQ:KYTX) in a research note issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Rodman & Renshaw’s price target points to a potential upside of 247.83% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. HC Wainwright restated a “neutral” rating and issued a $7.00 target price on shares of Kyverna Therapeutics in a report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Kyverna Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $31.33.

Kyverna Therapeutics Stock Up 3.4 %

Shares of KYTX stock opened at $4.60 on Wednesday. Kyverna Therapeutics has a 12-month low of $4.42 and a 12-month high of $35.06. The stock’s 50-day moving average price is $6.76 and its 200-day moving average price is $11.56.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.03. Equities research analysts predict that Kyverna Therapeutics will post -3.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in shares of Kyverna Therapeutics in the 2nd quarter worth about $120,000. Rhumbline Advisers bought a new stake in Kyverna Therapeutics in the second quarter worth about $150,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Kyverna Therapeutics by 69.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock valued at $161,000 after buying an additional 8,796 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Kyverna Therapeutics during the first quarter valued at approximately $181,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Kyverna Therapeutics by 55.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock valued at $196,000 after buying an additional 9,385 shares during the last quarter. 18.08% of the stock is owned by hedge funds and other institutional investors.

About Kyverna Therapeutics

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.