Brokerages Set Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Target Price at $28.71

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been given an average rating of “Buy” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. 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 on the company. The average 1-year target price among analysts that have covered the stock in the last year is $28.71.

A number of research analysts have commented on the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Kyverna Therapeutics in a research report on Thursday, September 19th. Rodman & Renshaw assumed coverage on shares of Kyverna Therapeutics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. UBS Group assumed coverage on shares of Kyverna Therapeutics in a research report on Thursday, October 10th. They issued a “buy” rating and a $13.00 target price on the stock. Finally, RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th.

Institutional Trading of Kyverna Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of KYTX. DekaBank Deutsche Girozentrale purchased a new stake in shares of Kyverna Therapeutics during the first quarter worth approximately $181,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Kyverna Therapeutics by 69.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock worth $161,000 after buying an additional 8,796 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Kyverna Therapeutics by 32.6% during the second quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock worth $283,000 after buying an additional 9,300 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Kyverna Therapeutics by 55.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock worth $196,000 after buying an additional 9,385 shares during the period. Finally, Creative Planning purchased a new stake in shares of Kyverna Therapeutics during the third quarter worth approximately $54,000. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

Kyverna Therapeutics Trading Up 2.2 %

NASDAQ KYTX opened at $5.65 on Friday. Kyverna Therapeutics has a 52 week low of $4.40 and a 52 week high of $35.06. The business’s fifty day simple moving average is $6.46 and its 200-day simple moving average is $10.81.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.03. As a group, sell-side analysts forecast that Kyverna Therapeutics will post -3.38 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.