Kyverna Therapeutics (NASDAQ:KYTX) Stock Price Down 7.3%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report)'s share price was down 7.3% during mid-day trading on Thursday . The company traded as low as $15.39 and last traded at $15.39. Approximately 21,206 shares were traded during trading, a decline of 95% from the average daily volume of 400,743 shares. The stock had previously closed at $16.61.

Analysts Set New Price Targets

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

Kyverna Therapeutics Trading Down 9.5 %

The stock has a fifty day moving average of $23.86.

Insiders Place Their Bets

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

Institutional Trading of Kyverna Therapeutics

A hedge fund recently bought a new stake in Kyverna Therapeutics stock. Jennison Associates LLC acquired a new stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,398,659 shares of the company's stock, valued at approximately $34,743,000. Jennison Associates LLC owned about 3.24% of Kyverna Therapeutics as of its most recent SEC filing. 18.08% of the stock is currently owned by institutional investors and hedge funds.

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.