Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Short Interest Up 13.9% in December

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 2,950,000 shares, an increase of 13.9% from the December 15th total of 2,590,000 shares. Based on an average daily trading volume, of 335,500 shares, the days-to-cover ratio is currently 8.8 days. Currently, 15.8% of the shares of the stock are sold short.

Kyverna Therapeutics Price Performance

Shares of KYTX stock opened at $3.33 on Friday. Kyverna Therapeutics has a 52-week low of $3.24 and a 52-week high of $35.06. The company’s 50 day moving average is $4.32 and its 200 day moving average is $6.00.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results 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 business had revenue of $0.01 million for the quarter. Sell-side analysts expect that Kyverna Therapeutics will post -3.29 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

Large investors have recently made changes to their positions in the business. Novo Holdings A S lifted its position in Kyverna Therapeutics by 150.0% during the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock valued at $13,125,000 after purchasing an additional 1,050,000 shares during the period. Deerfield Management Company L.P. Series C raised its stake in shares of Kyverna Therapeutics by 35.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock valued at $14,872,000 after buying an additional 520,663 shares during the last quarter. MBB Public Markets I LLC acquired a new position in shares of Kyverna Therapeutics in the 2nd quarter valued at about $3,076,000. Kera Capital Partners Inc. purchased a new stake in shares of Kyverna Therapeutics in the fourth quarter worth about $1,407,000. Finally, Great Point Partners LLC grew its holdings in Kyverna Therapeutics by 232.8% during the second quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock worth $3,744,000 after acquiring an additional 349,152 shares during the period. 18.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KYTX shares. Rodman & Renshaw initiated 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 upgraded shares of Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. HC Wainwright decreased their price target on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. UBS Group assumed coverage on shares of Kyverna Therapeutics in a research report on Thursday, October 10th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. 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. According to MarketBeat, Kyverna Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $25.71.

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.