Kyverna Therapeutics, Inc. (NASDAQ:KYTX – Get Free Report) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,680,000 shares, a drop of 8.5% from the August 15th total of 2,930,000 shares. Based on an average trading volume of 605,900 shares, the days-to-cover ratio is currently 4.4 days. Currently, 15.2% of the shares of the company are sold short.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Bain Capital Life Sciences Investors LLC bought a new stake in Kyverna Therapeutics in the 1st quarter valued at $78,590,000. Jennison Associates LLC acquired a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at $34,743,000. Novo Holdings A S grew its holdings 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 worth $13,125,000 after purchasing an additional 1,050,000 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Kyverna Therapeutics during the 1st quarter valued at about $23,093,000. Finally, Janus Henderson Group PLC bought a new stake in Kyverna Therapeutics during the first quarter worth about $15,041,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.
Kyverna Therapeutics Stock Performance
NASDAQ KYTX traded down $0.10 during midday trading on Wednesday, hitting $6.56. The company had a trading volume of 57,284 shares, compared to its average volume of 484,986. The firm has a fifty day simple moving average of $8.06 and a two-hundred day simple moving average of $13.97. Kyverna Therapeutics has a fifty-two week low of $6.30 and a fifty-two week high of $35.06.
Analyst Ratings Changes
A number of equities research analysts have issued reports on KYTX shares. HC Wainwright decreased their price target on shares of Kyverna Therapeutics from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. decreased 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.40.
Read Our Latest Research Report on Kyverna Therapeutics
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.
Recommended Stories
- Five stocks we like better than Kyverna Therapeutics
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- This Is the Top Large-Cap Stock Insiders Are Buying
- How Can Investors Benefit From After-Hours Trading
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Stocks to Take Advantage of Rising Gold Prices
Receive News & Ratings for Kyverna Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kyverna Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.