Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Given Average Rating of “Buy” by Brokerages

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been given a consensus recommendation of “Buy” by the nine brokerages that are covering the firm, Marketbeat reports. One investment 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 12 month price target among brokerages that have issued ratings on the stock in the last year is $28.71.

Several research analysts have recently weighed in on KYTX shares. RODMAN&RENSHAW upgraded Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. UBS Group began coverage on Kyverna Therapeutics in a research note on Thursday, October 10th. They set a “buy” rating and a $13.00 price objective on the stock. JPMorgan Chase & Co. cut 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. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a research report on Wednesday, October 9th. They set a “buy” rating and a $16.00 price target on the stock. Finally, HC Wainwright restated a “neutral” rating and set a $7.00 price objective on shares of Kyverna Therapeutics in a research report on Thursday, September 19th.

Kyverna Therapeutics Stock Performance

Shares of KYTX stock opened at $5.16 on Tuesday. Kyverna Therapeutics has a fifty-two week low of $4.40 and a fifty-two week high of $35.06. The stock’s fifty day moving average is $5.94 and its two-hundred day moving average is $9.17.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.03. On average, equities analysts predict that Kyverna Therapeutics will post -3.38 earnings per share for the current year.

Institutional Investors Weigh In On Kyverna Therapeutics

Hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Kyverna Therapeutics during the first quarter worth approximately $181,000. Creative Planning purchased a new stake in shares of Kyverna Therapeutics in the 3rd quarter valued at approximately $54,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at $313,000. Federated Hermes Inc. purchased a new stake in shares of Kyverna Therapeutics during the 2nd quarter worth $120,000. Finally, Rhumbline Advisers acquired a new position in shares of Kyverna Therapeutics during the second quarter worth $150,000. Institutional investors and hedge funds own 18.08% of the company’s stock.

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.