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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.71.

Several equities analysts have recently issued reports on the company. UBS Group began coverage on Kyverna Therapeutics in a research note on Thursday, October 10th. They issued a “buy” rating and a $13.00 price objective for the company. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price objective on the stock. Wells Fargo & Company dropped their target price on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, HC Wainwright dropped their price objective on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Novo Holdings A S boosted its stake in shares of Kyverna Therapeutics by 150.0% during the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after buying an additional 1,050,000 shares during the period. E Fund Management Co. Ltd. acquired a new stake in Kyverna Therapeutics during the 2nd quarter worth approximately $1,421,000. Great Point Partners LLC grew its stake in shares of Kyverna Therapeutics by 232.8% in the 2nd quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock valued at $3,744,000 after purchasing an additional 349,152 shares during the last quarter. TD Asset Management Inc purchased a new position in shares of Kyverna Therapeutics in the 2nd quarter valued at approximately $677,000. Finally, Deerfield Management Company L.P. Series C increased its holdings in shares of Kyverna Therapeutics by 35.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock valued at $14,872,000 after purchasing an additional 520,663 shares during the period. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Trading Up 0.3 %

Kyverna Therapeutics stock opened at $3.99 on Wednesday. Kyverna Therapeutics has a 52-week low of $3.63 and a 52-week high of $35.06. The company’s 50 day moving average is $4.77 and its two-hundred day moving average is $6.46.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.01. The company had revenue of $0.01 million during the quarter. As a group, equities analysts forecast 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.