Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives $18.50 Consensus Target Price from Brokerages

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) has earned an average recommendation of "Buy" from the seven analysts that are currently covering the stock, MarketBeat Ratings 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $18.50.

KYTX has been the subject of several research reports. HC Wainwright upgraded shares of 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 report on Tuesday, May 27th. Morgan Stanley reduced their price target on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st.

Institutional Investors Weigh In On Kyverna Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Kera Capital Partners Inc. lifted its holdings in Kyverna Therapeutics by 12.2% during the second quarter. Kera Capital Partners Inc. now owns 421,924 shares of the company's stock valued at $1,295,000 after purchasing an additional 45,738 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Kyverna Therapeutics by 22.0% in the first quarter. Rhumbline Advisers now owns 31,614 shares of the company's stock worth $61,000 after buying an additional 5,694 shares in the last quarter. Insight Holdings Group LLC lifted its holdings in shares of Kyverna Therapeutics by 8.3% in 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 purchased a new stake in shares of Kyverna Therapeutics in the first quarter worth about $137,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Kyverna Therapeutics by 31.1% in the first quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company's stock worth $132,000 after buying an additional 16,267 shares in the last quarter. 18.08% of the stock is owned by hedge funds and other institutional investors.

Kyverna Therapeutics Stock Up 12.9%

KYTX traded up $0.46 during trading on Thursday, hitting $4.03. 826,134 shares of the company traded hands, compared to its average volume of 387,045. The firm has a market cap of $174.18 million, a P/E ratio of -1.19 and a beta of 2.95. The stock's fifty day moving average is $2.78 and its 200 day moving average is $2.77. 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 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, equities research analysts forecast that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

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.