Analysts Set Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Price Target at $28.71

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been given a consensus rating of “Buy” by the nine ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $28.71.

KYTX has been the subject of a number of recent research reports. Rodman & Renshaw initiated coverage on Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 price objective for the company. UBS Group assumed coverage on shares of Kyverna Therapeutics in a research note on Thursday, October 10th. They issued a “buy” rating and a $13.00 price objective for the company. HC Wainwright restated a “neutral” rating and set a $7.00 target price on shares of Kyverna Therapeutics in a research note on Thursday, September 19th. JPMorgan Chase & Co. cut their price target on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, RODMAN&RENSHAW upgraded Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th.

Kyverna Therapeutics Stock Performance

Kyverna Therapeutics stock opened at $5.26 on Tuesday. Kyverna Therapeutics has a 52-week low of $4.40 and a 52-week high of $35.06. The business has a 50-day simple moving average of $5.77 and a two-hundred day simple moving average of $9.03.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Monday, August 12th. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.03. On average, equities research analysts expect that Kyverna Therapeutics will post -3.38 EPS for the current year.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bain Capital Life Sciences Investors LLC purchased a new stake in shares of Kyverna Therapeutics during the 1st quarter worth approximately $78,590,000. Deerfield Management Company L.P. Series C raised its stake in Kyverna Therapeutics by 35.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock valued at $14,872,000 after purchasing an additional 520,663 shares in the last quarter. Novo Holdings A S lifted its position in Kyverna Therapeutics by 5.7% during the third quarter. Novo Holdings A S now owns 1,850,000 shares of the company’s stock valued at $9,046,000 after purchasing an additional 100,000 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Kyverna Therapeutics in the 1st quarter worth $34,743,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Kyverna Therapeutics in the 1st quarter worth about $23,093,000. 18.08% of the stock is owned by 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.