JPMorgan Chase & Co. Cuts Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $33.00

Kyverna Therapeutics (NASDAQ:KYTX) had its target price decreased by JPMorgan Chase & Co. from $39.00 to $33.00 in a report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Separately, HC Wainwright restated a neutral rating and set a $8.00 price target on shares of Kyverna Therapeutics in a report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $34.60.

Kyverna Therapeutics Stock Performance

Shares of KYTX opened at $7.25 on Wednesday. The company’s 50 day simple moving average is $9.89. Kyverna Therapeutics has a 12-month low of $6.75 and a 12-month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its earnings results on Tuesday, May 14th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.28). During the same quarter in the prior year, the company earned ($12.10) earnings per share. On average, equities analysts expect that Kyverna Therapeutics will post -3.34 EPS for the current year.

Hedge Funds Weigh In On Kyverna Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Bain Capital Life Sciences Investors LLC purchased a new position in Kyverna Therapeutics during the 1st quarter valued at approximately $78,590,000. Jennison Associates LLC purchased a new position in shares of Kyverna Therapeutics in the 1st quarter worth approximately $34,743,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Kyverna Therapeutics in the 1st quarter worth approximately $23,093,000. Janus Henderson Group PLC purchased a new position in shares of Kyverna Therapeutics in the 1st quarter worth approximately $15,041,000. Finally, Avoro Capital Advisors LLC purchased a new position in shares of Kyverna Therapeutics in the 1st quarter worth approximately $11,799,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

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.