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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.40.

Separately, Morgan Stanley decreased 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in KYTX. FMR LLC acquired a new stake in shares of Kyverna Therapeutics in the third quarter valued at $33,000. China Universal Asset Management Co. Ltd. acquired a new position in Kyverna Therapeutics in the 4th quarter valued at $34,000. Squarepoint Ops LLC acquired a new position in Kyverna Therapeutics during the fourth quarter worth $43,000. Corton Capital Inc. acquired a new stake in shares of Kyverna Therapeutics during the 4th quarter valued at approximately $45,000. Finally, Corebridge Financial Inc. boosted its position in shares of Kyverna Therapeutics by 42.3% in the 4th quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock worth $48,000 after buying an additional 3,810 shares in the last quarter. Institutional investors and hedge funds own 18.08% of the company’s stock.

Kyverna Therapeutics Stock Performance

NASDAQ:KYTX traded down $0.01 during mid-day trading on Tuesday, hitting $1.92. 69,933 shares of the stock were exchanged, compared to its average volume of 435,412. The firm’s 50-day simple moving average is $2.81 and its 200 day simple moving average is $4.08. Kyverna Therapeutics has a fifty-two week low of $1.89 and a fifty-two week high of $25.84. The stock has a market capitalization of $82.89 million and a price-to-earnings ratio of -0.55.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its 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, analysts predict that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

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.