Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives $28.71 Consensus Price Target from Analysts

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have earned an average rating of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. One equities research 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 twelve-month price target among analysts that have updated their coverage on the stock in the last year is $28.71.

KYTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. HC Wainwright reiterated a “neutral” rating and set a $7.00 price objective on shares of Kyverna Therapeutics in a research note on Thursday, September 19th. Rodman & Renshaw assumed coverage on Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 price objective for the company. UBS Group assumed coverage on Kyverna Therapeutics in a research note on Thursday. They set a “buy” rating and a $13.00 price objective for the company. Finally, RODMAN&RENSHAW upgraded Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th.

Kyverna Therapeutics Trading Up 15.4 %

NASDAQ KYTX opened at $5.25 on Friday. Kyverna Therapeutics has a fifty-two week low of $4.40 and a fifty-two week high of $35.06. The stock has a 50 day simple moving average of $6.57 and a two-hundred day simple moving average of $11.24.

Kyverna Therapeutics (NASDAQ:KYTX) last released its earnings results on Monday, August 12th. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.03. On average, sell-side analysts expect that Kyverna Therapeutics will post -3.38 earnings per share for the current year.

Institutional Trading of Kyverna Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new position in Kyverna Therapeutics in the 1st quarter worth $181,000. Teachers Retirement System of The State of Kentucky grew its position 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 period. The Manufacturers Life Insurance Company grew its position in shares of Kyverna Therapeutics by 32.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock valued at $283,000 after acquiring an additional 9,300 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of Kyverna Therapeutics by 55.8% during 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 during the period. Finally, Creative Planning acquired a new stake in shares of Kyverna Therapeutics during the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

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.