Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Given Average Recommendation of “Buy” by Brokerages

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been given a consensus recommendation of “Buy” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $25.71.

Several equities research analysts have recently commented on the stock. RODMAN&RENSHAW upgraded shares of Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th. Rodman & Renshaw assumed coverage on shares of Kyverna Therapeutics in a report on Wednesday, October 9th. They set a “buy” rating and a $16.00 target price for the company. UBS Group started 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 for the company. Wells Fargo & Company reduced their price target on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, HC Wainwright dropped their price objective on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th.

Kyverna Therapeutics Trading Down 2.9 %

Shares of KYTX opened at $3.33 on Friday. The business’s fifty day moving average price is $4.32 and its two-hundred day moving average price is $5.99. Kyverna Therapeutics has a 52 week low of $3.24 and a 52 week high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.01. The firm had revenue of $0.01 million during the quarter. Research analysts anticipate that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KYTX. Novo Holdings A S raised its position in Kyverna Therapeutics by 150.0% in the 2nd quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock valued at $13,125,000 after buying an additional 1,050,000 shares during the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of Kyverna Therapeutics by 35.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after purchasing an additional 520,663 shares during the last quarter. MBB Public Markets I LLC bought a new stake in shares of Kyverna Therapeutics in the 2nd quarter valued at about $3,076,000. Kera Capital Partners Inc. acquired a new position in Kyverna Therapeutics during the fourth quarter worth approximately $1,407,000. Finally, Great Point Partners LLC lifted its position in shares of Kyverna Therapeutics by 232.8% in the second quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock valued at $3,744,000 after buying an additional 349,152 shares during the last quarter. 18.08% of the stock is owned by institutional investors and hedge funds.

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.