Brokerages Set Kyverna Therapeutics, Inc. (NASDAQ:KYTX) PT at $25.71

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.71.

KYTX has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. HC Wainwright cut their target price on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Rodman & Renshaw began coverage on shares of Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 target price for the company. RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group began coverage on shares of Kyverna Therapeutics in a research note on Thursday, October 10th. They set a “buy” rating and a $13.00 target price for the company.

Kyverna Therapeutics Stock Up 0.3 %

Shares of NASDAQ:KYTX opened at $3.34 on Friday. Kyverna Therapeutics has a fifty-two week low of $3.22 and a fifty-two week high of $35.06. The firm has a 50-day simple moving average of $4.28 and a 200 day simple moving average of $5.95.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results on Wednesday, November 13th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.01. The firm had revenue of $0.01 million during the quarter. As a group, analysts expect that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Kyverna Therapeutics by 15.8% during the third quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock valued at $11,674,000 after acquiring an additional 326,095 shares during the period. Deerfield Management Company L.P. Series C increased 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 valued at $14,872,000 after buying an additional 520,663 shares during the period. Novo Holdings A S increased its stake in Kyverna Therapeutics by 5.7% in the 3rd quarter. Novo Holdings A S now owns 1,850,000 shares of the company’s stock valued at $9,046,000 after buying an additional 100,000 shares during the period. Franklin Resources Inc. increased its stake in Kyverna Therapeutics by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 936,961 shares of the company’s stock valued at $4,582,000 after buying an additional 113,922 shares during the period. Finally, Millennium Management LLC increased its stake in Kyverna Therapeutics by 32.8% in the 2nd quarter. Millennium Management LLC now owns 923,082 shares of the company’s stock valued at $6,923,000 after buying an additional 227,988 shares during the period. Institutional investors and hedge funds own 18.08% of the company’s stock.

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.