Kyverna Therapeutics (NASDAQ:KYTX) Reaches New 12-Month Low at $13.89

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $13.89 and last traded at $13.89, with a volume of 166721 shares traded. The stock had previously closed at $15.25.

Analysts Set New Price Targets

A number of research analysts have weighed in on KYTX shares. JPMorgan Chase & Co. started coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an "overweight" rating and a $39.00 target price on the stock. Leerink Partnrs reiterated an "outperform" rating on shares of Kyverna Therapeutics in a report on Monday, March 4th. Wells Fargo & Company started coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an "overweight" rating and a $44.00 target price on the stock. Morgan Stanley began coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an "overweight" rating and a $40.00 target price on the stock. Finally, SVB Leerink began coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They issued an "outperform" rating and a $48.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $42.75.

Kyverna Therapeutics Price Performance

The business's 50 day simple moving average is $23.33.

Insider Buying and Selling at Kyverna Therapeutics

In other Kyverna Therapeutics news, major shareholder Northpond Ventures Iii Gp, Llc bought 450,000 shares of the business's stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $9,900,000.00. Following the purchase, the insider now owns 450,000 shares in the company, valued at approximately $9,900,000. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On Kyverna Therapeutics

An institutional investor recently bought a new position in Kyverna Therapeutics stock. Jennison Associates LLC bought a new position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,398,659 shares of the company's stock, valued at approximately $34,743,000. Jennison Associates LLC owned 3.24% of Kyverna Therapeutics as of its most recent filing with the SEC. Institutional investors and hedge funds 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.

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