Kyverna Therapeutics (NASDAQ:KYTX) Trading 11.4% Higher

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) rose 11.4% during trading on Wednesday . The stock traded as high as $17.47 and last traded at $17.26. Approximately 34,348 shares were traded during trading, a decline of 91% from the average daily volume of 395,300 shares. The stock had previously closed at $15.50.

Analyst Ratings Changes

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

Kyverna Therapeutics Trading Up 2.4 %

The business's 50-day simple moving average is $21.70.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last released its earnings results on Tuesday, May 14th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.28). During the same quarter last year, the business earned ($12.10) earnings per share. Equities analysts predict that Kyverna Therapeutics, Inc. will post -3.26 earnings per share for the current fiscal year.

Institutional Trading of Kyverna Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. StemPoint Capital LP bought a new stake in shares of Kyverna Therapeutics during the first quarter worth approximately $1,018,000. Vanguard Group Inc. bought a new stake in shares of Kyverna Therapeutics in the first quarter valued at about $6,563,000. Avoro Capital Advisors LLC acquired a new position in shares of Kyverna Therapeutics in the first quarter valued at about $11,799,000. Price T Rowe Associates Inc. MD bought a new position in Kyverna Therapeutics during the first quarter worth about $23,093,000. Finally, Jennison Associates LLC acquired a new stake in Kyverna Therapeutics in the 1st quarter worth about $34,743,000. 18.08% of the stock is owned by institutional investors.

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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