Wells Fargo & Company Lowers Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $24.00

Kyverna Therapeutics (NASDAQ:KYTX) had its target price reduced by stock analysts at Wells Fargo & Company from $44.00 to $24.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 451.72% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Rodman & Renshaw began coverage on shares of Kyverna Therapeutics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $16.00 target price for the company. RODMAN&RENSHAW upgraded Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. HC Wainwright reaffirmed a “neutral” rating and set a $7.00 target price on shares of Kyverna Therapeutics in a research report on Thursday, September 19th. JPMorgan Chase & Co. lowered their price target on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, UBS Group assumed coverage on shares of Kyverna Therapeutics in a report on Thursday, October 10th. They set a “buy” rating and a $13.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $25.86.

Kyverna Therapeutics Stock Performance

NASDAQ:KYTX opened at $4.35 on Friday. The company’s 50-day simple moving average is $5.46 and its 200-day simple moving average is $8.52. Kyverna Therapeutics has a fifty-two week low of $4.30 and a fifty-two week high of $35.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD purchased a new stake in Kyverna Therapeutics in the 1st quarter worth approximately $23,093,000. Novo Holdings A S boosted its holdings in Kyverna Therapeutics by 150.0% during the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after buying an additional 1,050,000 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Kyverna Therapeutics during the second quarter valued at $1,421,000. Great Point Partners LLC grew its position in Kyverna Therapeutics by 232.8% during the second quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock valued at $3,744,000 after buying an additional 349,152 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Kyverna Therapeutics in the first quarter valued at $15,041,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

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.