HC Wainwright Lowers Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $6.00

Kyverna Therapeutics (NASDAQ:KYTX) had its price target lowered by stock analysts at HC Wainwright from $7.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 50.38% from the company’s current price.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. 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 price target on the stock. 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 price target on the stock. RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their price target on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kyverna Therapeutics currently has a consensus rating of “Buy” and an average price target of $25.71.

Kyverna Therapeutics Stock Down 3.2 %

NASDAQ KYTX opened at $3.99 on Wednesday. The company has a 50 day moving average of $5.28 and a 200-day moving average of $8.24. Kyverna Therapeutics has a 1-year low of $3.94 and a 1-year high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.01. The firm had revenue of $0.01 million for the quarter. Sell-side analysts expect that Kyverna Therapeutics will post -3.31 earnings per share for the current year.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of KYTX. Barclays PLC boosted its position in shares of Kyverna Therapeutics by 21.5% during the third quarter. Barclays PLC now owns 70,167 shares of the company’s stock worth $343,000 after purchasing an additional 12,418 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Kyverna Therapeutics by 19.0% during the third quarter. Geode Capital Management LLC now owns 443,312 shares of the company’s stock worth $2,168,000 after purchasing an additional 70,714 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Kyverna Therapeutics by 78.3% during the third quarter. Jane Street Group LLC now owns 39,193 shares of the company’s stock worth $192,000 after purchasing an additional 17,215 shares in the last quarter. Sphera Funds Management LTD. boosted its position in shares of Kyverna Therapeutics by 5.3% during the third quarter. Sphera Funds Management LTD. now owns 248,651 shares of the company’s stock worth $1,216,000 after purchasing an additional 12,622 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Kyverna Therapeutics by 3.2% during the third quarter. State Street Corp now owns 326,192 shares of the company’s stock worth $1,595,000 after purchasing an additional 10,244 shares in the last quarter. 18.08% of the stock is owned by institutional investors.

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.