Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Stock Has Average Price Target of $29.00

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.00.

A number of equities analysts have weighed in on the stock. Benchmark restated a “buy” rating on shares of Kyverna Therapeutics in a research report on Friday, September 25th. Needham & Company LLC set a $25.00 price objective on shares of Kyverna Therapeutics in a report on Friday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Monday, September 21st. HC Wainwright reiterated a “buy” rating on shares of Kyverna Therapeutics in a research report on Thursday, October 22nd. Finally, William Blair raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd.

Kyverna Therapeutics Stock Up 6.8%

Shares of KYTX stock opened at $5.63 on Wednesday. The stock has a 50 day simple moving average of $7.07 and a 200-day simple moving average of $8.13. Kyverna Therapeutics has a 1-year low of $5.16 and a 1-year high of $13.67.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Tuesday, August 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.05. Analysts expect that Kyverna Therapeutics will post -2.70 EPS for the current year.

Institutional Investors Weigh In On Kyverna Therapeutics

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Kyverna Therapeutics in the 2nd quarter worth about $27,931,000. AIGH Capital Management LLC purchased a new stake in Kyverna Therapeutics during the 2nd quarter worth approximately $24,911,000. Renaissance Technologies LLC increased its stake in Kyverna Therapeutics by 106.6% during the 1st quarter. Renaissance Technologies LLC now owns 367,492 shares of the company’s stock worth $3,171,000 after buying an additional 189,593 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Kyverna Therapeutics during the second quarter valued at approximately $2,365,000. Finally, Walleye Capital LLC acquired a new position in shares of Kyverna Therapeutics during the second quarter valued at approximately $2,188,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

About Kyverna Therapeutics

Kyverna Therapeutics is a clinical-stage biotechnology company developing engineered T-cell therapies for patients with severe autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing B cells, which play a central role in many autoimmune disorders, with the goal of achieving deep and durable disease remission.

Kyverna’s lead investigational product, KYV-101, is an autologous CD19-directed chimeric antigen receptor (CAR) T-cell therapy. The treatment is being evaluated in clinical studies for conditions including lupus nephritis, systemic sclerosis, multiple sclerosis and other serious autoimmune diseases.