Brokerages Set Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Price Target at $25.71

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been given an average rating of “Buy” by the nine research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $25.71.

A number of equities research analysts have issued reports on the company. Rodman & Renshaw assumed coverage on Kyverna Therapeutics in a research report on Wednesday, October 9th. They set a “buy” rating and a $16.00 target price for the company. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th. HC Wainwright decreased their target price on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. UBS Group assumed coverage on Kyverna Therapeutics in a research report on Thursday, October 10th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, November 15th.

Kyverna Therapeutics Price Performance

Shares of NASDAQ KYTX opened at $6.49 on Friday. The business has a 50 day simple moving average of $5.05 and a 200 day simple moving average of $7.67. Kyverna Therapeutics has a 52 week low of $3.92 and a 52 week high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.01. The company had revenue of $0.01 million for the quarter. Equities analysts expect that Kyverna Therapeutics will post -3.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC acquired a new position in shares of Kyverna Therapeutics in the third quarter valued at $33,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Kyverna Therapeutics in the first quarter valued at $181,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of Kyverna Therapeutics by 69.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock valued at $161,000 after purchasing an additional 8,796 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Kyverna Therapeutics by 32.6% in the second quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock valued at $283,000 after purchasing an additional 9,300 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Kyverna Therapeutics by 55.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock valued at $196,000 after purchasing an additional 9,385 shares in the last quarter. 18.08% of the stock is currently owned by institutional investors and hedge funds.

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.