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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) has received an average recommendation of "Buy" from the seven research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $18.50.

Several brokerages have issued reports on KYTX. Morgan Stanley lowered their target price on shares of 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 shares of Kyverna Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $4.00 to $5.00 in a research report on Tuesday, May 27th.

Kyverna Therapeutics Stock Performance

Shares of NASDAQ KYTX opened at $3.22 on Friday. The firm has a market cap of $139.17 million, a PE ratio of -0.95 and a beta of 2.52. The firm has a fifty day moving average of $2.36 and a 200 day moving average of $2.99. Kyverna Therapeutics has a one year low of $1.78 and a one year high of $11.40.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KYTX. Rhumbline Advisers lifted its position in Kyverna Therapeutics by 22.0% in the first quarter. Rhumbline Advisers now owns 31,614 shares of the company's stock valued at $61,000 after buying an additional 5,694 shares during the last quarter. Insight Holdings Group LLC increased 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 worth $1,909,000 after buying 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 worth approximately $137,000. Cubist Systematic Strategies LLC boosted its holdings in Kyverna Therapeutics by 31.1% in 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 in the last quarter. Finally, Nuveen LLC acquired a new position in Kyverna Therapeutics in the first quarter valued at approximately $92,000. 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.

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