Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Sees Significant Increase in Short Interest

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, a growth of 13.9% from the December 31st total of 2,590,000 shares. Currently, 15.8% of the company’s shares are sold short. Based on an average daily trading volume, of 335,500 shares, the short-interest ratio is presently 8.8 days.

Analyst Upgrades and Downgrades

KYTX has been the subject of a number of recent research reports. Rodman & Renshaw initiated coverage on Kyverna Therapeutics in a research report on Wednesday, October 9th. They set a “buy” rating and a $16.00 target price for the company. UBS Group assumed coverage on shares of Kyverna Therapeutics in a research report on Thursday, October 10th. They set a “buy” rating and a $13.00 target price on the stock. RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. HC Wainwright reduced 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 note on Wednesday, November 20th. Finally, Wells Fargo & Company cut their price target 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. 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. According to MarketBeat.com, Kyverna Therapeutics currently has an average rating of “Buy” and a consensus target price of $25.71.

Hedge Funds Weigh In On Kyverna Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of KYTX. FMR LLC acquired a new stake in Kyverna Therapeutics during the 3rd quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Kyverna Therapeutics during the fourth quarter worth $34,000. Creative Planning bought a new stake in Kyverna Therapeutics in the 3rd quarter valued at $54,000. Jacobs Levy Equity Management Inc. acquired a new position in Kyverna Therapeutics in the 3rd quarter worth $97,000. Finally, Rhumbline Advisers increased its holdings in Kyverna Therapeutics by 31.1% during the 4th quarter. Rhumbline Advisers now owns 25,920 shares of the company’s stock worth $97,000 after purchasing an additional 6,153 shares in the last quarter. 18.08% of the stock is currently owned by institutional investors and hedge funds.

Kyverna Therapeutics Price Performance

Shares of NASDAQ KYTX opened at $3.24 on Monday. Kyverna Therapeutics has a twelve month low of $3.15 and a twelve month high of $35.06. The company’s fifty day moving average is $4.08 and its 200-day moving average is $5.58.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its 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 for the quarter. Analysts expect that Kyverna Therapeutics will post -3.29 EPS 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.