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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has earned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $18.33.

A number of equities research analysts have recently weighed in on KYTX shares. HC Wainwright dropped their price objective on Kyverna Therapeutics from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley lowered their target price on Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, April 1st.

Kyverna Therapeutics Trading Down 1.9 %

Shares of KYTX opened at $2.10 on Friday. The company’s 50-day moving average price is $2.31 and its 200 day moving average price is $3.59. Kyverna Therapeutics has a 12-month low of $1.78 and a 12-month high of $17.55. The firm has a market cap of $90.76 million, a P/E ratio of -0.61 and a beta of 2.57.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.01). Equities research analysts forecast that Kyverna Therapeutics will post -3.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Kyverna Therapeutics in the 4th quarter valued at about $34,000. Squarepoint Ops LLC purchased a new position in Kyverna Therapeutics in the fourth quarter worth approximately $43,000. Corton Capital Inc. purchased a new stake in shares of Kyverna Therapeutics in the 4th quarter valued at approximately $45,000. Corebridge Financial Inc. raised its holdings 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 valued at $48,000 after purchasing an additional 3,810 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Kyverna Therapeutics by 53.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company’s stock worth $53,000 after purchasing an additional 4,990 shares during the last quarter. 18.08% of the stock is owned by institutional investors and hedge funds.

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.