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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $25.71.

KYTX has been the subject of several research analyst reports. Wells Fargo & Company lowered their price target on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, November 15th. HC Wainwright dropped their target price on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th.

Institutional Investors Weigh In On Kyverna Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC acquired a new position in shares of Kyverna Therapeutics in the third quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. bought a new position in Kyverna Therapeutics during the 4th quarter worth approximately $34,000. Corebridge Financial Inc. lifted its position 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 worth $48,000 after purchasing an additional 3,810 shares during the period. Creative Planning bought a new stake in shares of Kyverna Therapeutics in the 3rd quarter valued at $54,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Kyverna Therapeutics during the third quarter worth $97,000. Institutional investors and hedge funds own 18.08% of the company’s stock.

Kyverna Therapeutics Price Performance

KYTX stock opened at $2.66 on Thursday. The firm has a 50-day moving average price of $3.74 and a 200-day moving average price of $5.26. Kyverna Therapeutics has a 12 month low of $2.64 and a 12 month high of $30.60.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) 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. On average, analysts anticipate that Kyverna Therapeutics will post -3.29 earnings per share 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.