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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have received a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $18.40.

Separately, Morgan Stanley lowered their target price on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday.

Institutional Investors Weigh In On Kyverna Therapeutics

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Kyverna Therapeutics by 33.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 166,635 shares of the company’s stock worth $815,000 after purchasing an additional 41,558 shares during the last quarter. FMR LLC acquired a new position in shares of Kyverna Therapeutics in the 3rd quarter worth approximately $33,000. BNP Paribas Financial Markets lifted its position in shares of Kyverna Therapeutics by 2,166.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company’s stock valued at $133,000 after acquiring an additional 25,997 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Kyverna Therapeutics during the third quarter valued at $218,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Kyverna Therapeutics during the third quarter worth approximately $97,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Price Performance

KYTX traded down $0.01 during trading on Tuesday, reaching $1.92. The company had a trading volume of 69,933 shares, compared to its average volume of 435,412. The company has a market cap of $82.89 million and a P/E ratio of -0.55. Kyverna Therapeutics has a 12 month low of $1.89 and a 12 month high of $25.84. The business’s fifty day moving average price is $2.81 and its 200 day moving average price is $4.08.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.01). As a group, sell-side analysts predict that Kyverna Therapeutics will post -3.29 EPS 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.