Kyverna Therapeutics (NASDAQ:KYTX) Price Target Cut to $20.00 by Analysts at Morgan Stanley

Kyverna Therapeutics (NASDAQ:KYTX) had its target price cut by Morgan Stanley from $40.00 to $20.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Kyverna Therapeutics Trading Up 2.6 %

Shares of NASDAQ:KYTX opened at $1.98 on Tuesday. The firm has a market capitalization of $85.48 million and a PE ratio of -0.57. Kyverna Therapeutics has a 1-year low of $1.88 and a 1-year high of $24.91. The business’s 50 day moving average is $2.79 and its 200-day moving average is $4.05.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.01). On average, sell-side analysts predict that Kyverna Therapeutics will post -3.29 EPS for the current year.

Institutional Investors Weigh In On Kyverna Therapeutics

Several large investors have recently modified their holdings of the stock. FMR LLC acquired a new stake in Kyverna Therapeutics in the 3rd quarter valued at $33,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Kyverna Therapeutics during the fourth quarter valued at $34,000. Squarepoint Ops LLC acquired a new stake in shares of Kyverna Therapeutics in the 4th quarter valued at $43,000. Corton Capital Inc. bought a new stake in shares of Kyverna Therapeutics in the 4th quarter worth about $45,000. Finally, Corebridge Financial Inc. increased its position in shares of Kyverna Therapeutics by 42.3% during the 4th quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock worth $48,000 after purchasing an additional 3,810 shares in the last quarter. 18.08% of the stock is currently owned by institutional investors.

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.