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

Kyverna Therapeutics (NASDAQ:KYTX) had its target price cut by HC Wainwright from $6.00 to $4.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Morgan Stanley dropped their price objective on Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $18.33.

Kyverna Therapeutics Price Performance

Shares of KYTX opened at $1.98 on Thursday. The firm has a 50-day simple moving average of $2.70 and a two-hundred day simple moving average of $3.97. The stock has a market cap of $85.57 million, a PE ratio of -0.57 and a beta of 2.57. Kyverna Therapeutics has a 1-year low of $1.86 and a 1-year high of $24.91.

Kyverna Therapeutics (NASDAQ:KYTX) last posted 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, sell-side analysts expect that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KYTX. Wellington Management Group LLP raised its stake in shares of Kyverna Therapeutics by 16.7% in the fourth quarter. Wellington Management Group LLP now owns 274,414 shares of the company’s stock valued at $1,026,000 after acquiring an additional 39,291 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Kyverna Therapeutics during the 4th quarter worth about $125,000. Squarepoint Ops LLC acquired a new stake in Kyverna Therapeutics in the 4th quarter valued at about $43,000. Two Sigma Advisers LP boosted its stake in shares of Kyverna Therapeutics by 375.1% in the 4th quarter. Two Sigma Advisers LP now owns 80,290 shares of the company’s stock valued at $300,000 after buying an additional 63,390 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Kyverna Therapeutics by 47.9% in the 4th quarter. Two Sigma Investments LP now owns 181,654 shares of the company’s stock valued at $679,000 after buying an additional 58,800 shares during the period. 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.