Kyverna Therapeutics (NASDAQ:KYTX) Trading Down 2.8%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report)'s stock price traded down 2.8% during mid-day trading on Friday . The company traded as low as $18.48 and last traded at $18.48. 7,254 shares changed hands during trading, a decline of 98% from the average session volume of 383,816 shares. The stock had previously closed at $19.01.

Wall Street Analyst Weigh In

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

Kyverna Therapeutics Price Performance

The firm's fifty day moving average is $26.10.

Insider Activity

In other news, major shareholder Northpond Ventures Iii Gp, Llc acquired 450,000 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $22.00 per share, with a total value of $9,900,000.00. Following the completion of the acquisition, the insider now owns 450,000 shares of the company's stock, valued at $9,900,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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.