Kyverna Therapeutics, Inc. (NASDAQ:KYTX – Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,680,000 shares, a decline of 8.5% from the August 15th total of 2,930,000 shares. Based on an average daily trading volume, of 605,900 shares, the short-interest ratio is presently 4.4 days. Approximately 15.2% of the company’s shares are sold short.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. HC Wainwright decreased their target price on Kyverna Therapeutics from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.40.
Check Out Our Latest Report on KYTX
Kyverna Therapeutics Trading Down 1.5 %
Kyverna Therapeutics (NASDAQ:KYTX – Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.03. As a group, sell-side analysts forecast that Kyverna Therapeutics will post -3.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Kyverna Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. bought a new position in shares of Kyverna Therapeutics during the 2nd quarter valued at $120,000. Rhumbline Advisers bought a new stake in shares of Kyverna Therapeutics during the 2nd quarter worth about $150,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Kyverna Therapeutics by 69.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock valued at $161,000 after acquiring an additional 8,796 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Kyverna Therapeutics during the 1st quarter valued at about $181,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Kyverna Therapeutics by 55.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock valued at $196,000 after acquiring an additional 9,385 shares in the last quarter. Institutional investors 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.
Recommended Stories
- Five stocks we like better than Kyverna Therapeutics
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- This Is the Top Large-Cap Stock Insiders Are Buying
- What is MarketRank™? How to Use it
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Stocks to Take Advantage of Rising Gold Prices
Receive News & Ratings for Kyverna Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kyverna Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.