JPMorgan Chase & Co. Cuts Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $29.00

Kyverna Therapeutics (NASDAQ:KYTX) had its target price lowered by JPMorgan Chase & Co. from $30.00 to $29.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also issued reports on KYTX. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Kyverna Therapeutics in a research report on Thursday, April 23rd. Wall Street Zen lowered shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kyverna Therapeutics has an average rating of “Moderate Buy” and an average target price of $30.00.

Kyverna Therapeutics Stock Performance

NASDAQ:KYTX opened at $9.49 on Wednesday. Kyverna Therapeutics has a 12-month low of $2.06 and a 12-month high of $13.67. The company has a quick ratio of 7.75, a current ratio of 8.15 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $576.90 million, a PE ratio of -2.89 and a beta of 2.05. The firm has a 50-day moving average price of $9.05 and a 200 day moving average price of $8.38.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.09. Research analysts anticipate that Kyverna Therapeutics will post -2.86 earnings per share for the current fiscal year.

Institutional Trading of Kyverna Therapeutics

Several hedge funds have recently modified their holdings of the company. Phoenix Wealth Advisors increased its holdings in shares of Kyverna Therapeutics by 17.1% during the fourth quarter. Phoenix Wealth Advisors now owns 12,300 shares of the company’s stock worth $116,000 after buying an additional 1,800 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kyverna Therapeutics during the third quarter worth approximately $28,000. Federated Hermes Inc. increased its holdings in shares of Kyverna Therapeutics by 36.6% during the fourth quarter. Federated Hermes Inc. now owns 20,705 shares of the company’s stock worth $195,000 after buying an additional 5,547 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Kyverna Therapeutics by 22.0% during the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock valued at $61,000 after purchasing an additional 5,694 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Kyverna Therapeutics by 41.6% during the fourth quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock valued at $81,000 after purchasing an additional 6,400 shares during the last quarter. Institutional investors and hedge funds own 18.08% of the company’s stock.

About Kyverna Therapeutics

Kyverna Therapeutics is a clinical?stage biotechnology company dedicated to developing engineered regulatory T?cell (Treg) therapies for the treatment of autoimmune and inflammatory diseases. Leveraging a proprietary platform for the isolation, expansion and modification of Treg cells, the company aims to restore immune homeostasis in patients by delivering antigen?specific cell therapies that selectively target diseased tissues while minimizing systemic immunosuppression.

The company’s lead programs include an allogeneic Treg candidate in clinical development for ulcerative colitis, with additional preclinical assets focused on rheumatoid arthritis and other chronic inflammatory conditions.