Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Short Interest Up 13.9% in January

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, an increase of 13.9% from the December 31st total of 2,590,000 shares. Based on an average daily volume of 335,500 shares, the short-interest ratio is presently 8.8 days. Approximately 15.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KYTX. HC Wainwright cut their target price on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. UBS Group began coverage on Kyverna Therapeutics in a research note on Thursday, October 10th. They set a “buy” rating and a $13.00 target price for the company. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a research report on Wednesday, October 9th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kyverna Therapeutics presently has a consensus rating of “Buy” and an average target price of $25.71.

Kyverna Therapeutics Trading Down 2.1 %

Shares of Kyverna Therapeutics stock opened at $3.24 on Monday. The firm’s 50-day simple moving average is $4.08 and its 200-day simple moving average is $5.58. Kyverna Therapeutics has a twelve month low of $3.15 and a twelve month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.01. The company had revenue of $0.01 million for the quarter. On average, equities analysts forecast that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Institutional Trading of Kyverna Therapeutics

Large investors have recently bought and sold shares of the stock. Novo Holdings A S lifted its holdings in shares of Kyverna Therapeutics by 5.7% during the third quarter. Novo Holdings A S now owns 1,850,000 shares of the company’s stock valued at $9,046,000 after acquiring an additional 100,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in Kyverna Therapeutics by 15.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock valued at $11,674,000 after purchasing an additional 326,095 shares during the last quarter. FMR LLC acquired a new position in Kyverna Therapeutics in the third quarter valued at about $33,000. Millennium Management LLC grew its stake in Kyverna Therapeutics by 32.8% during the second quarter. Millennium Management LLC now owns 923,082 shares of the company’s stock worth $6,923,000 after buying an additional 227,988 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Kyverna Therapeutics by 21.5% during the third quarter. Barclays PLC now owns 70,167 shares of the company’s stock worth $343,000 after buying an additional 12,418 shares in the last quarter. 18.08% of the stock is currently owned by institutional investors.

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.