Kyverna Therapeutics (NASDAQ:KYTX) Trading 4.5% Higher

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report)'s stock price shot up 4.5% during trading on Tuesday . The stock traded as high as $15.75 and last traded at $15.68. 46,262 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 395,831 shares. The stock had previously closed at $15.01.

Analyst Ratings Changes

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

Kyverna Therapeutics Stock Up 0.9 %

The firm's 50-day simple moving average is $24.59.

Insider Buying and Selling at Kyverna Therapeutics

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

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.