Kyverna Therapeutics (NASDAQ:KYTX) Reaches New 1-Year Low at $21.13

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $21.13 and last traded at $21.30, with a volume of 24716 shares. The stock had previously closed at $22.43.

Analysts Set New Price Targets

KYTX has been the topic of a number of research reports. Morgan Stanley initiated coverage on shares of Kyverna Therapeutics in a report on Monday, March 4th. They issued an “overweight” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $39.00 price objective for the company. Wells Fargo & Company started coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $44.00 price objective for the company. Leerink Partnrs reiterated an “outperform” rating on shares of Kyverna Therapeutics in a research note on Monday, March 4th. Finally, SVB Leerink started coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “outperform” rating and a $48.00 price objective for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kyverna Therapeutics currently has an average rating of “Buy” and a consensus target price of $42.75.

Kyverna Therapeutics Stock Performance

The stock’s 50 day moving average is $26.33.

Insider Activity

In other news, major shareholder Northpond Ventures Iii Gp, Llc purchased 450,000 shares of Kyverna Therapeutics stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $9,900,000.00. Following the transaction, the insider now directly owns 450,000 shares of the company’s stock, valued at $9,900,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

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.