HC Wainwright Issues Pessimistic Forecast for Kyverna Therapeutics (NASDAQ:KYTX) Stock Price

Kyverna Therapeutics (NASDAQ:KYTX) had its target price dropped by analysts at HC Wainwright from $6.00 to $4.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 102.02% from the stock’s current price.

Separately, Morgan Stanley reduced their price objective on Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $18.33.

Kyverna Therapeutics Price Performance

Kyverna Therapeutics stock opened at $1.98 on Thursday. Kyverna Therapeutics has a fifty-two week low of $1.86 and a fifty-two week high of $24.91. The firm’s 50 day simple moving average is $2.70 and its 200-day simple moving average is $3.99. The company has a market cap of $85.57 million, a P/E ratio of -0.57 and a beta of 2.57.

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

Institutional Trading of Kyverna Therapeutics

A number of institutional investors have recently bought and sold shares of KYTX. FMR LLC acquired a new position in Kyverna Therapeutics in the 3rd quarter worth about $33,000. China Universal Asset Management Co. Ltd. acquired a new position in Kyverna Therapeutics in the fourth quarter worth approximately $34,000. Squarepoint Ops LLC bought a new position in Kyverna Therapeutics during the fourth quarter valued at approximately $43,000. Corton Capital Inc. acquired a new stake in Kyverna Therapeutics in the fourth quarter valued at approximately $45,000. Finally, Corebridge Financial Inc. grew its position in Kyverna Therapeutics by 42.3% in the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock worth $48,000 after acquiring an additional 3,810 shares in the last quarter. 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.