HC Wainwright Cuts Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $6.00

Kyverna Therapeutics (NASDAQ:KYTX) had its target price cut by HC Wainwright from $7.00 to $6.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock. HC Wainwright also issued estimates for Kyverna Therapeutics’ FY2024 earnings at ($3.14) EPS and Q4 2025 earnings at ($0.77) EPS.

KYTX has been the subject of a number of other research reports. RODMAN&RENSHAW upgraded shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. UBS Group assumed coverage on Kyverna Therapeutics in a report on Thursday, October 10th. They issued a “buy” rating and a $13.00 price objective on the stock. Wells Fargo & Company cut their target price 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. JPMorgan Chase & Co. lowered their price target on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, 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 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $25.71.

Kyverna Therapeutics Stock Up 10.0 %

KYTX stock opened at $4.39 on Wednesday. Kyverna Therapeutics has a 1 year low of $3.92 and a 1 year high of $35.06. The business’s 50-day moving average is $5.22 and its two-hundred day moving average is $8.21.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its 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 firm had revenue of $0.01 million during the quarter. On average, equities research analysts predict that Kyverna Therapeutics will post -3.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in KYTX. FMR LLC acquired a new stake in shares of Kyverna Therapeutics in the third quarter valued at approximately $33,000. DekaBank Deutsche Girozentrale acquired a new stake in Kyverna Therapeutics during the 1st quarter valued at $181,000. Teachers Retirement System of The State of Kentucky increased its position in Kyverna Therapeutics by 69.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock worth $161,000 after buying an additional 8,796 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Kyverna Therapeutics by 32.6% in the second quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock worth $283,000 after acquiring an additional 9,300 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Kyverna Therapeutics by 55.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock valued at $196,000 after acquiring an additional 9,385 shares in the last quarter. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

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.