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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) have been given an average recommendation of "Buy" by the seven analysts that are currently covering the firm, 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 1 year target price among analysts that have issued ratings on the stock in the last year is $18.50.

KYTX has been the topic of a number of research reports. HC Wainwright raised shares of Kyverna Therapeutics from a "neutral" rating to a "buy" rating and raised their target price for the company from $4.00 to $5.00 in a research report on Tuesday, May 27th. Morgan Stanley cut their price objective on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, April 1st.

Kyverna Therapeutics Trading Up 14.8%

Shares of KYTX traded up $0.46 during trading hours on Thursday, reaching $3.57. 895,448 shares of the company traded hands, compared to its average volume of 386,877. The stock's fifty day moving average price is $2.72 and its 200 day moving average price is $2.78. The firm has a market cap of $154.29 million, a price-to-earnings ratio of -1.06 and a beta of 2.95. Kyverna Therapeutics has a 12-month low of $1.78 and a 12-month 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 the consensus estimate of ($1.21) by $0.18. On average, research analysts forecast that Kyverna Therapeutics will post -3.29 earnings per share for the current year.

Hedge Funds Weigh In On Kyverna Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Kera Capital Partners Inc. boosted its stake in Kyverna Therapeutics by 12.2% in the 2nd quarter. Kera Capital Partners Inc. now owns 421,924 shares of the company's stock worth $1,295,000 after purchasing an additional 45,738 shares in the last quarter. Rhumbline Advisers lifted its holdings 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 acquiring an additional 5,694 shares during the period. Insight Holdings Group LLC boosted its holdings in 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 in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Kyverna Therapeutics during the 1st quarter valued at about $137,000. Finally, Cubist Systematic Strategies LLC grew 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 during the period. 18.08% of the stock is owned by hedge funds and other institutional investors.

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.