Franklin Resources Inc. Increases Holdings in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

Franklin Resources Inc. lifted its position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 936,961 shares of the company’s stock after buying an additional 113,922 shares during the period. Franklin Resources Inc. owned approximately 2.17% of Kyverna Therapeutics worth $4,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. FMR LLC purchased a new position in Kyverna Therapeutics in the third quarter worth about $33,000. Creative Planning bought a new position in shares of Kyverna Therapeutics in the 3rd quarter worth approximately $54,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Kyverna Therapeutics in the third quarter worth approximately $97,000. Federated Hermes Inc. bought a new stake in Kyverna Therapeutics during the second quarter valued at approximately $120,000. Finally, BNP Paribas Financial Markets increased its holdings in Kyverna Therapeutics by 2,166.4% during the third quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company’s stock valued at $133,000 after buying an additional 25,997 shares during the last quarter. Institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Trading Down 2.0 %

KYTX opened at $3.92 on Tuesday. The stock has a 50-day moving average of $4.90 and a 200 day moving average of $6.73. Kyverna Therapeutics, Inc. has a 12 month low of $3.63 and a 12 month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.01. The company had revenue of $0.01 million for the quarter. On average, analysts expect that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KYTX. Wells Fargo & Company cut their price objective on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. RODMAN&RENSHAW upgraded Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th. UBS Group initiated coverage on Kyverna Therapeutics in a research report on Thursday, October 10th. They set a “buy” rating and a $13.00 price objective on the stock. HC Wainwright reduced their target price 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. Finally, Rodman & Renshaw assumed coverage on shares of Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kyverna Therapeutics presently has a consensus rating of “Buy” and an average price target 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.