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

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

A number of research analysts recently commented on KYTX shares. HC Wainwright dropped their target price on Kyverna Therapeutics from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley dropped their price objective on Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 1st.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC acquired a new position in Kyverna Therapeutics in the 3rd quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Kyverna Therapeutics in the fourth quarter worth approximately $34,000. Squarepoint Ops LLC acquired a new stake in shares of Kyverna Therapeutics during the fourth quarter worth approximately $43,000. Corton Capital Inc. acquired a new stake in shares of Kyverna Therapeutics during the fourth quarter worth approximately $45,000. Finally, Corebridge Financial Inc. increased its stake in 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. Institutional investors and hedge funds own 18.08% of the company’s stock.

Kyverna Therapeutics Stock Performance

NASDAQ:KYTX opened at $1.98 on Tuesday. The stock has a market cap of $85.57 million, a price-to-earnings 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. The business has a fifty day moving average of $2.70 and a 200-day moving average of $3.97.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Thursday, March 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.01). On average, equities research analysts predict that Kyverna Therapeutics will post -3.29 EPS for the current year.

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.