HC Wainwright Lowers Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $4.00

Kyverna Therapeutics (NASDAQ:KYTX) had its price target reduced by equities research analysts at HC Wainwright from $6.00 to $4.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s price target suggests a potential upside of 86.05% from the company’s current price.

Separately, Morgan Stanley lowered their price objective on Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Kyverna Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $18.33.

Kyverna Therapeutics Price Performance

Shares of Kyverna Therapeutics stock opened at $2.15 on Thursday. The stock’s 50 day simple moving average is $2.76 and its 200-day simple moving average is $4.03. The stock has a market cap of $92.82 million and a P/E ratio of -0.62. Kyverna Therapeutics has a 1-year low of $1.88 and a 1-year high of $24.91.

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

Institutional Trading of Kyverna Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC purchased a new position in shares of Kyverna Therapeutics during the third quarter worth $33,000. China Universal Asset Management Co. Ltd. purchased a new position in Kyverna Therapeutics during the 4th quarter valued at about $34,000. Squarepoint Ops LLC purchased a new position in Kyverna Therapeutics during the 4th quarter valued at about $43,000. Corton Capital Inc. purchased a new stake in Kyverna Therapeutics during the fourth quarter worth about $45,000. Finally, Corebridge Financial Inc. lifted its position in shares of Kyverna Therapeutics by 42.3% during the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock worth $48,000 after purchasing an additional 3,810 shares in the last quarter. Hedge funds and other institutional investors 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.