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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) have earned a consensus recommendation of "Buy" from the seven analysts that are currently covering the firm, Marketbeat.com reports. Six 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 objective among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of research analysts recently issued reports on the company. HC Wainwright upgraded Kyverna Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $4.00 to $5.00 in a report on Tuesday, May 27th. Morgan Stanley decreased their price objective on Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Kyverna Therapeutics by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 169,780 shares of the company's stock valued at $635,000 after purchasing an additional 3,145 shares during the last quarter. Corebridge Financial Inc. boosted its position in Kyverna Therapeutics by 42.3% during the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company's stock valued at $48,000 after purchasing an additional 3,810 shares during the last quarter. Norges Bank acquired a new position in Kyverna Therapeutics during the fourth quarter valued at approximately $150,000. Wellington Management Group LLP boosted its position in Kyverna Therapeutics by 16.7% during the fourth quarter. Wellington Management Group LLP now owns 274,414 shares of the company's stock valued at $1,026,000 after purchasing an additional 39,291 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Kyverna Therapeutics by 21.7% during the fourth quarter. Geode Capital Management LLC now owns 539,682 shares of the company's stock valued at $2,019,000 after purchasing an additional 96,370 shares during the last quarter. 18.08% of the stock is currently owned by institutional investors.

Kyverna Therapeutics Price Performance

Shares of Kyverna Therapeutics stock traded up $0.46 during trading hours on Thursday, hitting $4.03. The company's stock had a trading volume of 826,134 shares, compared to its average volume of 386,777. Kyverna Therapeutics has a 12 month low of $1.78 and a 12 month high of $11.40. The stock has a 50 day moving average of $2.78 and a 200 day moving average of $2.76. The company has a market capitalization of $174.17 million, a PE ratio of -1.19 and a beta of 2.95.

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