Analysts Set Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Target Price at $34.40

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $34.40.

A number of brokerages have issued reports on KYTX. HC Wainwright lowered their price objective on Kyverna Therapeutics from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered their price objective 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bain Capital Life Sciences Investors LLC purchased a new position in shares of Kyverna Therapeutics in the first quarter worth $78,590,000. Deerfield Management Company L.P. Series C raised its stake in shares of Kyverna Therapeutics by 35.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after purchasing an additional 520,663 shares during the last quarter. Novo Holdings A S raised its stake in shares of Kyverna Therapeutics by 150.0% in the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after purchasing an additional 1,050,000 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Kyverna Therapeutics in the first quarter worth $34,743,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Kyverna Therapeutics in the first quarter worth $23,093,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Stock Performance

KYTX opened at $6.60 on Monday. The business has a 50 day moving average of $8.02 and a 200-day moving average of $13.92. Kyverna Therapeutics has a 52 week low of $6.30 and a 52 week high of $35.06.

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. As a group, analysts expect that Kyverna Therapeutics will post -3.38 EPS for the current year.

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.