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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $28.71.

A number of brokerages have recently commented on KYTX. RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. 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. HC Wainwright reaffirmed a “neutral” rating and set a $7.00 price objective on shares of Kyverna Therapeutics in a research note on Thursday, September 19th. UBS Group began coverage on shares of Kyverna Therapeutics in a research note on Thursday, October 10th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new position in Kyverna Therapeutics in the 3rd quarter valued at $54,000. Federated Hermes Inc. purchased a new position in Kyverna Therapeutics in the 2nd quarter valued at $120,000. Rhumbline Advisers purchased a new position in Kyverna Therapeutics in the 2nd quarter valued at $150,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Kyverna Therapeutics by 69.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock worth $161,000 after acquiring an additional 8,796 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Kyverna Therapeutics during the 1st quarter worth $181,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Trading Up 2.2 %

Shares of NASDAQ:KYTX opened at $5.65 on Friday. Kyverna Therapeutics has a twelve month low of $4.40 and a twelve month high of $35.06. The company’s 50 day moving average is $6.46 and its 200 day moving average is $10.81.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.03. As a group, research analysts expect that Kyverna Therapeutics will post -3.38 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.