Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives $25.71 Average Target Price from Brokerages

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have received a consensus rating of “Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $25.71.

A number of equities analysts have issued reports on KYTX shares. Wells Fargo & Company cut their price target on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. HC Wainwright dropped their price target on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Rodman & Renshaw started coverage on Kyverna Therapeutics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, UBS Group assumed coverage on shares of Kyverna Therapeutics in a research report on Thursday, October 10th. They set a “buy” rating and a $13.00 target price for the company.

Kyverna Therapeutics Stock Performance

Shares of KYTX stock opened at $3.99 on Wednesday. Kyverna Therapeutics has a twelve month low of $3.63 and a twelve month high of $35.06. The stock’s fifty day simple moving average is $4.77 and its 200 day simple moving average is $6.56.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.01. The business had revenue of $0.01 million for the quarter. On average, equities analysts anticipate that Kyverna Therapeutics will post -3.29 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

Several institutional investors have recently added to or reduced their stakes in KYTX. Novo Holdings A S raised its holdings in Kyverna Therapeutics by 150.0% in the 2nd quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after purchasing an additional 1,050,000 shares during the period. Deerfield Management Company L.P. Series C lifted its stake in Kyverna Therapeutics by 35.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after purchasing an additional 520,663 shares in the last quarter. MBB Public Markets I LLC bought a new position in Kyverna Therapeutics during the second quarter valued at approximately $3,076,000. Great Point Partners LLC boosted its position in shares of Kyverna Therapeutics by 232.8% during the 2nd quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock valued at $3,744,000 after acquiring an additional 349,152 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Kyverna Therapeutics by 15.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock worth $11,674,000 after buying an additional 326,095 shares in the last quarter. 18.08% of the stock is currently 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.