Kyverna Therapeutics (NASDAQ:KYTX) Trading Down 7.3% – What’s Next?

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s stock price dropped 7.3% during mid-day trading on Thursday . The stock traded as low as $8.33 and last traded at $8.2220. 105,578 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 925,923 shares. The stock had previously closed at $8.87.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Wall Street Zen cut shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.00.

Kyverna Therapeutics Stock Down 7.8%

The stock has a market capitalization of $505.85 million, a price-to-earnings ratio of -2.78 and a beta of 1.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 9.06 and a quick ratio of 9.06. The business has a fifty day moving average of $8.14 and a 200 day moving average of $8.43.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.05. As a group, equities analysts predict that Kyverna Therapeutics, Inc. will post -2.7 earnings per share for the current year.

Institutional Trading of Kyverna Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Kyverna Therapeutics by 41.6% in the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock valued at $81,000 after buying an additional 6,400 shares during the period. Cubist Systematic Strategies LLC boosted its stake in Kyverna Therapeutics by 31.1% during the first quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company’s stock worth $132,000 after buying an additional 16,267 shares during the period. AQR Capital Management LLC purchased a new position in Kyverna Therapeutics during the first quarter worth about $137,000. Rhumbline Advisers boosted its stake in Kyverna Therapeutics by 22.0% during the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock worth $61,000 after buying an additional 5,694 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Kyverna Therapeutics during the second quarter valued at about $107,000. 18.08% of the stock is owned by institutional investors and hedge funds.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics is a clinical‐stage biotechnology company dedicated to developing engineered regulatory T‐cell (Treg) therapies for the treatment of autoimmune and inflammatory diseases. Leveraging a proprietary platform for the isolation, expansion and modification of Treg cells, the company aims to restore immune homeostasis in patients by delivering antigen‐specific cell therapies that selectively target diseased tissues while minimizing systemic immunosuppression.

The company’s lead programs include an allogeneic Treg candidate in clinical development for ulcerative colitis, with additional preclinical assets focused on rheumatoid arthritis and other chronic inflammatory conditions.