Kyverna Therapeutics (NASDAQ:KYTX) Given New $20.00 Price Target at Morgan Stanley

Kyverna Therapeutics (NASDAQ:KYTX) had its price objective cut by stock analysts at Morgan Stanley from $40.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock.

Kyverna Therapeutics Trading Down 3.5 %

Kyverna Therapeutics stock opened at $1.93 on Tuesday. The business’s 50 day simple moving average is $2.81 and its 200 day simple moving average is $4.08. Kyverna Therapeutics has a 12 month low of $1.90 and a 12 month high of $25.84. The company has a market cap of $83.32 million and a price-to-earnings ratio of -0.56.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.01). As a group, equities research analysts forecast that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Institutional Trading of Kyverna Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC bought a new position in Kyverna Therapeutics in the 3rd quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Kyverna Therapeutics in the fourth quarter worth $34,000. Squarepoint Ops LLC purchased a new position in shares of Kyverna Therapeutics in the fourth quarter valued at $43,000. Corton Capital Inc. bought a new stake in shares of Kyverna Therapeutics during the 4th quarter valued at $45,000. Finally, Corebridge Financial Inc. raised its stake in shares of Kyverna Therapeutics by 42.3% during the 4th quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock valued at $48,000 after purchasing an additional 3,810 shares during the period. 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.