Kyverna Therapeutics (NASDAQ:KYTX) Trading Down 6.6%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) fell 6.6% during mid-day trading on Thursday . The company traded as low as $16.40 and last traded at $16.54. 41,878 shares traded hands during trading, a decline of 89% from the average session volume of 374,995 shares. The stock had previously closed at $17.71.

Wall Street Analysts Forecast Growth

KYTX has been the subject of a number of research analyst reports. Wells Fargo & Company assumed coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $44.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They set an “overweight” rating and a $39.00 target price for the company. SVB Leerink started coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They set an “outperform” rating and a $48.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of Kyverna Therapeutics in a research note on Monday, March 4th. Finally, Morgan Stanley assumed coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $40.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $42.75.

Kyverna Therapeutics Price Performance

The stock has a 50-day moving average price of $25.43.

Insider Buying and Selling

In other news, major shareholder Northpond Ventures Iii Gp, Llc bought 450,000 shares of Kyverna Therapeutics stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $22.00 per share, with a total value of $9,900,000.00. Following the completion of the transaction, the insider now directly owns 450,000 shares in the company, valued at $9,900,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.