Kyverna Therapeutics (NASDAQ:KYTX) Shares Down 11.1% - Time to Sell?

Key Points

• Kyverna Therapeutics (NASDAQ:KYTX) fell 11.1% in mid-day trading on Friday, with shares trading as low as $8.90 after closing at $9.81 the previous day.
• Analyst views remain mixed: JPMorgan trimmed its price target slightly to $29 while keeping an overweight rating, but Weiss Ratings and Wall Street Zen both issued sell calls. Overall, MarketBeat shows a Moderate Buy consensus with a $30 average target.
• The clinical-stage biotech reported a smaller-than-expected quarterly loss of ($0.66) per share, beating estimates, and it continues to focus on engineered Treg therapies for autoimmune and inflammatory diseases, led by a program in ulcerative colitis.

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report)'s stock price dropped 11.1% during mid-day trading on Friday . The stock traded as low as $8.90 and last traded at $8.7180. Approximately 220,254 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 922,871 shares. The stock had previously closed at $9.81.

Analysts Set New Price Targets

A number of brokerages have recently commented on KYTX. JPMorgan Chase & Co. cut their price target on Kyverna Therapeutics from $30.00 to $29.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kyverna Therapeutics in a research report on Wednesday, June 24th. HC Wainwright reiterated a "buy" rating and set a $25.00 target price on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of Kyverna Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 30th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Kyverna Therapeutics Stock Performance

The stock has a fifty day moving average price of $8.72 and a 200-day moving average price of $8.65. The firm has a market capitalization of $518.84 million, a price-to-earnings ratio of -2.58 and a beta of 1.87. The company has a current ratio of 8.15, a quick ratio of 8.15 and a debt-to-equity ratio of 0.13.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.09. As a group, analysts anticipate that Kyverna Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

Several large investors have recently bought and sold shares of KYTX. Adage Capital Partners GP L.L.C. bought a new position in shares of Kyverna Therapeutics during the fourth quarter worth $15,667,000. AIGH Capital Management LLC bought a new stake in shares of Kyverna Therapeutics in the fourth quarter worth about $14,100,000. Balyasny Asset Management L.P. acquired a new stake in shares of Kyverna Therapeutics during the fourth quarter worth about $9,220,000. Propel Bio Management LLC bought a new position in shares of Kyverna Therapeutics during the 4th quarter valued at about $6,267,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Kyverna Therapeutics in the 4th quarter valued at approximately $5,640,000. Institutional investors own 18.08% of the company's stock.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics is a clinical‐stage biotechnology company dedicated to developing engineered regulatory T‐cell (Treg) therapies for the treatment of autoimmune and inflammatory diseases. Leveraging a proprietary platform for the isolation, expansion and modification of Treg cells, the company aims to restore immune homeostasis in patients by delivering antigen‐specific cell therapies that selectively target diseased tissues while minimizing systemic immunosuppression.

The company's lead programs include an allogeneic Treg candidate in clinical development for ulcerative colitis, with additional preclinical assets focused on rheumatoid arthritis and other chronic inflammatory conditions.

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