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

Key Points

• Kyverna Therapeutics has received an average analyst rating of "Buy", with six analysts giving it a buy rating and one assigning a strong buy rating.
• The company's stock price target averages at $16.60 among analysts, significantly higher than its current trading price of $6.52.
• Kyverna Therapeutics focuses on developing cell therapies for autoimmune diseases, with its lead product candidate currently in Phase I and II clinical trials.

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) have been given an average rating of "Buy" by the seven brokerages that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $16.60.

A number of research analysts recently commented on KYTX shares. HC Wainwright increased their target price on shares of Kyverna Therapeutics from $5.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, August 29th. William Blair assumed coverage on shares of Kyverna Therapeutics in a research note on Wednesday, August 20th. They set an "outperform" rating for the company.

Institutional Trading of Kyverna Therapeutics

Hedge funds have recently made changes to their positions in the company. Phoenix Wealth Advisors acquired a new stake in shares of Kyverna Therapeutics in the 2nd quarter worth $32,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Kyverna Therapeutics in the 2nd quarter worth $37,000. Squarepoint Ops LLC acquired a new stake in shares of Kyverna Therapeutics in the 4th quarter worth $43,000. Qube Research & Technologies Ltd acquired a new stake in shares of Kyverna Therapeutics in the 2nd quarter worth $43,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Kyverna Therapeutics by 53.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company's stock worth $53,000 after acquiring an additional 4,990 shares during the period. Institutional investors and hedge funds own 18.08% of the company's stock.

Kyverna Therapeutics Trading Up 12.4%

Shares of NASDAQ:KYTX opened at $6.52 on Tuesday. Kyverna Therapeutics has a 52 week low of $1.78 and a 52 week high of $7.20. The company's 50 day moving average is $3.87 and its two-hundred day moving average is $2.99. The company has a market cap of $281.99 million, a PE ratio of -1.77 and a beta of 3.07.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.97) EPS for the quarter, beating analysts' consensus estimates of ($1.00) by $0.03. As a group, equities research analysts expect that Kyverna Therapeutics will post -3.29 EPS for the current year.

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.

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