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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $18.33.

KYTX has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. HC Wainwright decreased their price objective on Kyverna Therapeutics from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd.

Kyverna Therapeutics Stock Down 1.9 %

Shares of NASDAQ KYTX opened at $2.10 on Friday. Kyverna Therapeutics has a 52 week low of $1.78 and a 52 week high of $17.55. The business’s 50 day moving average price is $2.31 and its 200 day moving average price is $3.59. The firm has a market cap of $90.76 million, a P/E ratio of -0.61 and a beta of 2.57.

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

Hedge Funds Weigh In On Kyverna Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Kyverna Therapeutics during the 4th quarter worth $34,000. Squarepoint Ops LLC purchased a new position in Kyverna Therapeutics during the fourth quarter worth about $43,000. Corton Capital Inc. purchased a new position in Kyverna Therapeutics during the fourth quarter worth about $45,000. Corebridge Financial Inc. grew its stake 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 valued at $48,000 after buying an additional 3,810 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Kyverna Therapeutics by 53.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company’s stock worth $53,000 after buying an additional 4,990 shares during the last quarter. Institutional investors and hedge funds own 18.08% of the company’s stock.

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.