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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) has earned a consensus rating of "Buy" from the six analysts that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.60.

Separately, HC Wainwright raised shares of Kyverna Therapeutics from a "neutral" rating to a "buy" rating and upped their price target for the stock from $4.00 to $5.00 in a research note on Tuesday, May 27th.

Kyverna Therapeutics Price Performance

Shares of NASDAQ KYTX traded down $0.01 during mid-day trading on Monday, reaching $3.33. 164,894 shares of the company traded hands, compared to its average volume of 371,566. The firm has a market cap of $143.70 million, a PE ratio of -0.99 and a beta of 3.05. The stock has a fifty day simple moving average of $3.38 and a 200-day simple moving average of $2.80. Kyverna Therapeutics has a fifty-two week low of $1.78 and a fifty-two week high of $8.78.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.21) by $0.18. As a group, analysts predict that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

Several hedge funds have recently added to or reduced their stakes in KYTX. Squarepoint Ops LLC bought a new position in shares of Kyverna Therapeutics in the fourth quarter valued at about $43,000. Corton Capital Inc. acquired a new position in shares of Kyverna Therapeutics in the 4th quarter valued at approximately $45,000. Corebridge Financial Inc. increased its stake in shares of 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 purchasing an additional 3,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kyverna Therapeutics by 53.7% in the fourth 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 last quarter. Finally, Ethic Inc. bought a new position in shares of Kyverna Therapeutics in the 2nd quarter valued at $56,000. Institutional investors and hedge funds 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.