Morgan Stanley Cuts Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $20.00

Kyverna Therapeutics (NASDAQ:KYTX) had its price target cut by Morgan Stanley from $40.00 to $20.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Kyverna Therapeutics Price Performance

Kyverna Therapeutics stock opened at $1.97 on Tuesday. The stock’s 50 day moving average price is $2.74 and its 200 day moving average price is $4.02. Kyverna Therapeutics has a 1-year low of $1.88 and a 1-year high of $24.91. The company has a market cap of $85.13 million, a PE ratio of -0.57 and a beta of 2.57.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.01). On average, equities research analysts anticipate that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

Several hedge funds have recently made changes to their positions in KYTX. Gilead Sciences Inc. acquired a new position in shares of Kyverna Therapeutics in the 4th quarter valued at $15,432,000. Jacobs Levy Equity Management Inc. raised its position in shares of Kyverna Therapeutics by 2,225.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 461,959 shares of the company’s stock worth $1,728,000 after buying an additional 442,090 shares during the period. Kera Capital Partners Inc. acquired a new position in Kyverna Therapeutics in the fourth quarter valued at $1,407,000. JPMorgan Chase & Co. boosted its holdings in Kyverna Therapeutics by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock valued at $11,674,000 after acquiring an additional 326,095 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its position in Kyverna Therapeutics by 75.0% during the fourth quarter. Integral Health Asset Management LLC now owns 350,000 shares of the company’s stock valued at $1,309,000 after acquiring an additional 150,000 shares during the period. Institutional investors and hedge funds own 18.08% of the company’s stock.

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.