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

by · The Cerbat Gem

Kyverna Therapeutics, Inc. (NASDAQ:KYTX – Get Free Report) 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.

Read Our Latest Research Report on KYTX

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 – Get Free Report) 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

(Get Free Report

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.

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