JPMorgan Chase & Co. Lowers Stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX)

JPMorgan Chase & Co. cut its stake in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,166,437 shares of the company's stock after selling 220,915 shares during the period. JPMorgan Chase & Co. owned about 5.02% of Kyverna Therapeutics worth $8,102,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KYTX. Franklin Resources Inc. increased its position in shares of Kyverna Therapeutics by 13.8% during the third quarter. Franklin Resources Inc. now owns 936,961 shares of the company's stock valued at $4,582,000 after acquiring an additional 113,922 shares during the last quarter. Geode Capital Management LLC boosted its position in Kyverna Therapeutics by 19.0% in the third quarter. Geode Capital Management LLC now owns 443,312 shares of the company's stock worth $2,168,000 after purchasing an additional 70,714 shares during the last quarter. Kera Capital Partners Inc. bought a new position in Kyverna Therapeutics in the 4th quarter valued at $1,407,000. State Street Corp increased its position in shares of Kyverna Therapeutics by 3.2% during the 3rd quarter. State Street Corp now owns 326,192 shares of the company's stock valued at $1,595,000 after purchasing an additional 10,244 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kyverna Therapeutics by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 169,780 shares of the company's stock worth $635,000 after purchasing an additional 3,145 shares during the period. 18.08% of the stock is owned by hedge funds and other institutional investors.

Kyverna Therapeutics Trading Up 1.6 %

Shares of NASDAQ KYTX traded up $0.03 during mid-day trading on Friday, hitting $1.86. The company had a trading volume of 286,269 shares, compared to its average volume of 427,767. Kyverna Therapeutics, Inc. has a 1 year low of $1.78 and a 1 year high of $19.67. The company has a market capitalization of $80.39 million, a price-to-earnings ratio of -0.54 and a beta of 2.57. The stock's 50-day moving average price is $2.40 and its 200-day moving average price is $3.67.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last posted its earnings results 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, equities research analysts forecast that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on KYTX. Morgan Stanley decreased their price objective on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. HC Wainwright decreased their price target on shares of Kyverna Therapeutics from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.33.

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.