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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has received an average rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $25.71.

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

Institutional Trading of Kyverna Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Novo Holdings A S boosted its stake in shares of Kyverna Therapeutics by 150.0% in the 2nd quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock valued at $13,125,000 after buying an additional 1,050,000 shares during the period. Deerfield Management Company L.P. Series C boosted its holdings in shares of Kyverna Therapeutics by 35.6% in 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 in the last quarter. MBB Public Markets I LLC purchased a new position in shares of Kyverna Therapeutics during the second quarter worth about $3,076,000. Great Point Partners LLC increased its position 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 buying an additional 349,152 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Kyverna Therapeutics by 15.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock valued at $11,674,000 after acquiring an additional 326,095 shares during the period. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

Kyverna Therapeutics Stock Up 0.3 %

KYTX opened at $3.99 on Wednesday. Kyverna Therapeutics has a one year low of $3.63 and a one year high of $35.06. The stock’s 50 day moving average price is $4.77 and its 200-day moving average price is $6.56.

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