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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) have earned an average rating of "Buy" from the six brokerages that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered 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 raised their price target for the company from $4.00 to $5.00 in a report on Tuesday, May 27th.

Kyverna Therapeutics Price Performance

KYTX opened at $3.44 on Monday. The company has a fifty day moving average price of $3.32 and a 200-day moving average price of $2.79. The firm has a market capitalization of $148.68 million, a P/E ratio of -1.02 and a beta of 3.05. Kyverna Therapeutics has a one year low of $1.78 and a one year high of $8.78.

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

Institutional Trading of Kyverna Therapeutics

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of Kyverna Therapeutics during the 4th quarter valued at about $43,000. Corton Capital Inc. purchased a new position in shares of Kyverna Therapeutics in the fourth quarter worth approximately $45,000. Corebridge Financial Inc. boosted its holdings in shares of Kyverna Therapeutics by 42.3% in the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company's stock worth $48,000 after buying an additional 3,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 buying an additional 4,990 shares during the last quarter. Finally, Ethic Inc. purchased a new position in shares of Kyverna Therapeutics in the second quarter worth approximately $56,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.