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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.71.

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

Institutional Investors Weigh In On Kyverna Therapeutics

A number of institutional investors have recently added to or reduced their stakes in KYTX. FMR LLC acquired a new position in Kyverna Therapeutics during the third quarter worth $33,000. Creative Planning purchased a new stake in shares of Kyverna Therapeutics during the third quarter worth about $54,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Kyverna Therapeutics during the 3rd quarter worth about $97,000. Federated Hermes Inc. purchased a new position in Kyverna Therapeutics in the 2nd quarter valued at about $120,000. Finally, BNP Paribas Financial Markets boosted its holdings in Kyverna Therapeutics by 2,166.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company’s stock worth $133,000 after buying an additional 25,997 shares during the last quarter. Institutional investors and hedge funds own 18.08% of the company’s stock.

Kyverna Therapeutics Price Performance

Shares of KYTX stock opened at $3.74 on Wednesday. Kyverna Therapeutics has a fifty-two week low of $3.54 and a fifty-two week high of $35.06. The stock’s 50-day simple moving average is $4.71 and its 200-day simple moving average is $6.35.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.01. The business had revenue of $0.01 million during the quarter. As a group, equities analysts predict that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

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.