Kyverna Therapeutics (NASDAQ:KYTX) Stock Price Up 6.7% – Here’s Why

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) rose 6.7% on Monday . The stock traded as high as $8.76 and last traded at $8.72. Approximately 546,245 shares traded hands during trading, a decline of 41% from the average daily volume of 928,649 shares. The stock had previously closed at $8.17.

Analysts Set New Price Targets

A number of equities research analysts have commented on KYTX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Wednesday, June 24th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Wall Street Zen lowered shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Finally, JPMorgan Chase & Co. decreased 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. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.00.

Kyverna Therapeutics Trading Up 6.7%

The company has a 50 day simple moving average of $8.07 and a two-hundred day simple moving average of $8.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 9.06 and a current ratio of 9.06. The firm has a market cap of $539.24 million, a PE ratio of -2.97 and a beta of 1.93.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings data 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. Analysts expect that Kyverna Therapeutics, Inc. will post -2.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of institutional investors have recently bought and sold shares of KYTX. BlackRock Inc. purchased a new position in shares of Kyverna Therapeutics during the second quarter worth $27,931,000. AIGH Capital Management LLC acquired a new stake in Kyverna Therapeutics during the 2nd quarter worth about $24,911,000. Adage Capital Partners GP L.L.C. acquired a new stake in Kyverna Therapeutics during the 4th quarter worth about $15,667,000. Balyasny Asset Management L.P. purchased a new position in shares of Kyverna Therapeutics during the 4th quarter valued at about $9,220,000. Finally, Propel Bio Management LLC purchased a new position in shares of Kyverna Therapeutics during the 4th quarter valued at about $6,267,000. 18.08% of the stock is owned by hedge funds and other institutional investors.

About Kyverna Therapeutics

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.