Kyverna Therapeutics (NASDAQ:KYTX) Raised to Buy at HC Wainwright

HC Wainwright upgraded shares of Kyverna Therapeutics (NASDAQ:KYTX - Free Report) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $5.00 price objective on the stock, up from their previous price objective of $4.00.

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

Kyverna Therapeutics Trading Down 4.2%

Kyverna Therapeutics stock traded down $0.11 during midday trading on Tuesday, hitting $2.52. The stock had a trading volume of 187,872 shares, compared to its average volume of 420,785. The business has a fifty day moving average price of $2.14 and a 200 day moving average price of $3.09. Kyverna Therapeutics has a 12 month low of $1.78 and a 12 month high of $16.64. The stock has a market cap of $108.91 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) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.18. On average, equities analysts anticipate that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

Several large investors have recently added to or reduced their stakes in KYTX. Gilead Sciences Inc. acquired a new stake in shares of Kyverna Therapeutics in the 4th quarter worth about $15,432,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Kyverna Therapeutics by 2,225.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 461,959 shares of the company's stock valued at $1,728,000 after purchasing an additional 442,090 shares during the period. Peapod Lane Capital LLC bought a new stake in shares of Kyverna Therapeutics during the first quarter valued at approximately $765,000. Integral Health Asset Management LLC boosted its position in shares of Kyverna Therapeutics by 75.0% during the fourth quarter. Integral Health Asset Management LLC now owns 350,000 shares of the company's stock worth $1,309,000 after buying an additional 150,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Kyverna Therapeutics by 21.7% in the 4th quarter. Geode Capital Management LLC now owns 539,682 shares of the company's stock worth $2,019,000 after buying an additional 96,370 shares in the last quarter. 18.08% of the stock is owned by institutional investors and hedge funds.

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.