Kyverna Therapeutics (NASDAQ:KYTX) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Kyverna Therapeutics (NASDAQ:KYTX) has received a "sell (e+)" rating from Weiss Ratings, while other analysts have varied opinions, with some issuing "buy" and "outperform" ratings.
• The stock has a current price target of $19.00, indicating a moderate buy rating based on multiple analysts' assessments.
• Kyverna's recent earnings report beat estimates with an EPS of ($0.97), and the company focuses on developing cell therapies for autoimmune diseases.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report)'s stock had its "sell (e+)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

Several other research analysts have also recently weighed in on the stock. William Blair initiated coverage on shares of Kyverna Therapeutics in a report on Wednesday, August 20th. They issued an "outperform" rating for the company. HC Wainwright upped their price target on shares of Kyverna Therapeutics from $5.00 to $10.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, Wells Fargo & Company upped their price target on shares of Kyverna Therapeutics from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Kyverna Therapeutics has an average rating of "Moderate Buy" and an average price target of $19.00.

Kyverna Therapeutics Stock Up 0.8%

NASDAQ KYTX traded up $0.06 during trading on Tuesday, reaching $6.99. 359,218 shares of the stock traded hands, compared to its average volume of 412,342. The firm has a market cap of $302.19 million, a price-to-earnings ratio of -1.90 and a beta of 3.72. The stock's 50-day moving average price is $4.57 and its 200 day moving average price is $3.39. Kyverna Therapeutics has a fifty-two week low of $1.78 and a fifty-two week high of $7.73.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.03. Analysts anticipate that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

Hedge funds have recently bought and sold shares of the business. Peapod Lane Capital LLC bought a new stake in shares of Kyverna Therapeutics during the 1st quarter worth approximately $765,000. TD Asset Management Inc lifted its stake in Kyverna Therapeutics by 179.5% during the second quarter. TD Asset Management Inc now owns 252,196 shares of the company's stock worth $774,000 after purchasing an additional 161,954 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Kyverna Therapeutics in the 2nd quarter valued at $269,000. The Manufacturers Life Insurance Company raised its holdings in shares of Kyverna Therapeutics by 206.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 118,297 shares of the company's stock worth $363,000 after buying an additional 79,695 shares in the last quarter. Finally, Insight Holdings Group LLC raised its holdings in shares of Kyverna Therapeutics by 8.3% during the 1st 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. 18.08% of the stock is owned by 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.

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