UBS Group Initiates Coverage on Kyverna Therapeutics (NASDAQ:KYTX)

UBS Group assumed coverage on shares of Kyverna Therapeutics (NASDAQ:KYTX) in a research note published on Thursday, MarketBeat reports. The firm issued a buy rating and a $13.00 target price on the stock.

KYTX has been the topic of several other reports. Rodman & Renshaw initiated coverage on Kyverna Therapeutics in a research note on Wednesday. They issued a buy rating and a $16.00 price objective on the stock. HC Wainwright reissued a neutral rating and set a $7.00 price target on shares of Kyverna Therapeutics in a research report on Thursday, September 19th. JPMorgan Chase & Co. reduced their price target on Kyverna Therapeutics from $39.00 to $33.00 and set an overweight rating on the stock in a research report on Wednesday, July 31st. Finally, RODMAN&RENSHAW raised Kyverna Therapeutics to a strong-buy rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and a consensus price target of $28.71.

Kyverna Therapeutics Trading Up 0.9 %

Kyverna Therapeutics stock traded up $0.04 during midday trading on Thursday, reaching $4.59. 62,022 shares of the company were exchanged, compared to its average volume of 482,567. The firm’s 50-day simple moving average is $6.61 and its 200-day simple moving average is $11.46. Kyverna Therapeutics has a 1 year low of $4.40 and a 1 year high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.03. Equities research analysts predict that Kyverna Therapeutics will post -3.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of institutional investors have recently made changes to their positions in KYTX. Jennison Associates LLC bought a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at approximately $34,743,000. Vanguard Group Inc. bought a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at approximately $6,563,000. StemPoint Capital LP bought a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at approximately $1,018,000. Avoro Capital Advisors LLC bought a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at approximately $11,799,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at approximately $23,093,000. 18.08% of the stock is currently owned by institutional investors.

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.