Kyverna Therapeutics (NASDAQ:KYTX) Now Covered by William Blair

Key Points

• William Blair has initiated coverage of Kyverna Therapeutics (NASDAQ:KYTX) with an "outperform" rating, while HC Wainwright upgraded the stock from "neutral" to "buy" and raised its price target from $4.00 to $5.00.
• Kyverna Therapeutics has a current stock price of $3.30, with a market cap of approximately $142.71 million, and its consensus price target stands at $15.60.
• The company reported an earnings per share (EPS) of ($0.97) for the last quarter, exceeding the consensus estimate by $0.03, while institutional investors currently hold 18.08% of its shares.

Analysts at William Blair started coverage on shares of Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an "outperform" rating on the stock.

Separately, HC Wainwright raised shares of Kyverna Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $4.00 to $5.00 in a report on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Kyverna Therapeutics presently has an average rating of "Buy" and a consensus price target of $15.60.

Kyverna Therapeutics Stock Down 6.8%

NASDAQ KYTX opened at $3.30 on Wednesday. The company has a market cap of $142.71 million, a PE ratio of -0.90 and a beta of 3.05. Kyverna Therapeutics has a 52 week low of $1.78 and a 52 week high of $8.78. The firm's 50-day simple moving average is $3.44 and its two-hundred day simple moving average is $2.79.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.03. As a group, equities research analysts anticipate that Kyverna Therapeutics will post -3.29 EPS for the current year.

Institutional Investors Weigh In On Kyverna Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Phoenix Wealth Advisors bought a new stake in shares of Kyverna Therapeutics during the second quarter valued at about $32,000. Squarepoint Ops LLC bought a new stake in shares of Kyverna Therapeutics during the fourth quarter valued at about $43,000. Catalyst Funds Management Pty Ltd bought a new stake in shares of Kyverna Therapeutics during the second quarter valued at about $37,000. Corton Capital Inc. bought a new stake in shares of Kyverna Therapeutics during the fourth quarter valued at about $45,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Kyverna Therapeutics during the second quarter valued at about $43,000. 18.08% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.