Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives Average Rating of “Buy” from Analysts

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been assigned an average recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. One equities research 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 1 year target price among brokerages that have updated their coverage on the stock in the last year is $25.71.

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. HC Wainwright cut their price objective on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KYTX. Kera Capital Partners Inc. bought a new position in Kyverna Therapeutics in the 4th quarter valued at about $1,407,000. JPMorgan Chase & Co. raised its stake in shares of Kyverna Therapeutics by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock worth $11,674,000 after purchasing an additional 326,095 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Kyverna Therapeutics by 13.8% in the third quarter. Franklin Resources Inc. now owns 936,961 shares of the company’s stock valued at $4,582,000 after purchasing an additional 113,922 shares in the last quarter. Novo Holdings A S boosted its position in shares of Kyverna Therapeutics by 5.7% during the third quarter. Novo Holdings A S now owns 1,850,000 shares of the company’s stock valued at $9,046,000 after buying an additional 100,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Kyverna Therapeutics by 21.7% during the fourth quarter. Geode Capital Management LLC now owns 539,682 shares of the company’s stock valued at $2,019,000 after buying an additional 96,370 shares during the last quarter. 18.08% of the stock is currently owned by institutional investors and hedge funds.

Kyverna Therapeutics Stock Down 9.2 %

NASDAQ KYTX opened at $2.66 on Thursday. Kyverna Therapeutics has a one year low of $2.64 and a one year high of $30.60. The business has a 50 day simple moving average of $3.74 and a 200 day simple moving average of $5.26.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.01. The company had revenue of $0.01 million for the quarter. On average, equities analysts predict that Kyverna Therapeutics will post -3.29 EPS for the current 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.