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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) has earned a consensus recommendation of "Buy" from the seven analysts that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of research analysts have recently weighed in on KYTX shares. Morgan Stanley cut their price target on Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. HC Wainwright raised Kyverna Therapeutics from a "neutral" rating to a "buy" rating and increased their price target for the company from $4.00 to $5.00 in a research note on Tuesday, May 27th.

Institutional Trading of Kyverna Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Gilead Sciences Inc. acquired a new stake in Kyverna Therapeutics during the 4th quarter worth $15,432,000. Two Sigma Investments LP raised its stake in shares of Kyverna Therapeutics by 47.9% in the 4th quarter. Two Sigma Investments LP now owns 181,654 shares of the company's stock valued at $679,000 after purchasing an additional 58,800 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Kyverna Therapeutics by 2,225.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 461,959 shares of the company's stock valued at $1,728,000 after purchasing an additional 442,090 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $53,000 after purchasing an additional 4,990 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Kyverna Therapeutics by 31.1% in the 4th quarter. Rhumbline Advisers now owns 25,920 shares of the company's stock valued at $97,000 after purchasing an additional 6,153 shares during the period. Institutional investors and hedge funds own 18.08% of the company's stock.

Kyverna Therapeutics Price Performance

Shares of KYTX stock traded down $0.05 during trading hours on Friday, reaching $2.91. The company had a trading volume of 247,089 shares, compared to its average volume of 382,398. The company has a 50 day moving average of $2.41 and a 200 day moving average of $2.94. The firm has a market cap of $125.77 million, a price-to-earnings ratio of -0.86 and a beta of 2.52. Kyverna Therapeutics has a 1-year low of $1.78 and a 1-year high of $11.40.

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