Kyverna Therapeutics (NASDAQ:KYTX) Stock Rating Upgraded by HC Wainwright

HC Wainwright upgraded shares of Kyverna Therapeutics (NASDAQ:KYTX - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat.com reports. HC Wainwright currently has $5.00 price target on the stock, up from their previous price target of $4.00.

Separately, Morgan Stanley decreased their price objective on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $18.50.

Kyverna Therapeutics Stock Down 1.2%

Shares of KYTX traded down $0.03 during trading hours on Tuesday, hitting $2.55. The company had a trading volume of 295,718 shares, compared to its average volume of 423,263. Kyverna Therapeutics has a 52-week low of $1.78 and a 52-week high of $16.64. The stock's 50 day moving average price is $2.13 and its 200 day moving average price is $3.13. The firm has a market cap of $110.21 million, a P/E ratio of -0.75 and a beta of 2.17.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last issued its 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. On average, research analysts expect that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KYTX. China Universal Asset Management Co. Ltd. bought a new stake in shares of Kyverna Therapeutics during the fourth quarter valued at approximately $34,000. Squarepoint Ops LLC purchased a new position in Kyverna Therapeutics during the fourth quarter valued at $43,000. Corton Capital Inc. bought a new stake in shares of Kyverna Therapeutics during the 4th quarter valued at $45,000. Corebridge Financial Inc. boosted its holdings in shares of Kyverna Therapeutics by 42.3% during the 4th quarter. Corebridge Financial Inc. now owns 12,811 shares of the company's stock valued at $48,000 after buying an additional 3,810 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Kyverna Therapeutics by 53.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company's stock worth $53,000 after buying an additional 4,990 shares during the period. Hedge funds and other institutional investors own 18.08% of the company's stock.

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.