Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives Consensus Rating of "Buy" from Brokerages

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) has earned a consensus recommendation of "Buy" from the seven research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $18.33.

A number of research analysts have commented on the stock. Morgan Stanley reduced their price target on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. HC Wainwright reduced their price target on shares of Kyverna Therapeutics from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd.

Kyverna Therapeutics Stock Down 8.1%

Shares of KYTX stock traded down $0.20 during trading on Wednesday, hitting $2.27. The company had a trading volume of 524,822 shares, compared to its average volume of 421,119. The stock's 50-day moving average is $2.12 and its two-hundred day moving average is $3.13. The stock has a market capitalization of $98.11 million, a price-to-earnings ratio of -0.67 and a beta of 2.17. Kyverna Therapeutics has a 52 week low of $1.78 and a 52 week high of $16.64.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.18. On average, research analysts predict that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Institutional Trading of Kyverna Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Insight Holdings Group LLC boosted its stake in shares of Kyverna Therapeutics by 8.3% during the first quarter. Insight Holdings Group LLC now owns 989,054 shares of the company's stock valued at $1,909,000 after purchasing an additional 76,139 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Kyverna Therapeutics during the first quarter valued at approximately $137,000. Cubist Systematic Strategies LLC boosted its stake in shares of Kyverna Therapeutics by 31.1% during the first quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company's stock valued at $132,000 after purchasing an additional 16,267 shares during the period. Nuveen LLC purchased a new stake in shares of Kyverna Therapeutics during the first quarter valued at approximately $92,000. Finally, Peapod Lane Capital LLC purchased a new stake in shares of Kyverna Therapeutics during the first quarter valued at approximately $765,000. Hedge funds and other institutional investors own 18.08% of the company's stock.

Kyverna Therapeutics Company Profile

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.