Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives Average Rating of “Buy” from Analysts

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has received an average recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $25.71.

A number of equities research analysts recently issued reports on the stock. UBS Group initiated coverage on shares of Kyverna Therapeutics in a report on Thursday, October 10th. They issued a “buy” rating and a $13.00 price objective for the company. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. HC Wainwright cut their price objective on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their price target on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Finally, Rodman & Renshaw started coverage on shares of Kyverna Therapeutics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price objective for the company.

Hedge Funds Weigh In On Kyverna Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in Kyverna Therapeutics during the 3rd quarter valued at $33,000. Creative Planning bought a new stake in shares of Kyverna Therapeutics during the third quarter worth $54,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Kyverna Therapeutics in the third quarter valued at $97,000. Federated Hermes Inc. bought a new position in shares of Kyverna Therapeutics in the second quarter valued at about $120,000. Finally, BNP Paribas Financial Markets lifted its position in Kyverna Therapeutics by 2,166.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company’s stock worth $133,000 after buying an additional 25,997 shares in the last quarter. 18.08% of the stock is owned by institutional investors.

Kyverna Therapeutics Stock Down 2.9 %

NASDAQ KYTX opened at $3.33 on Friday. Kyverna Therapeutics has a 1-year low of $3.24 and a 1-year high of $35.06. The firm’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $5.99.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its earnings results on Wednesday, November 13th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.01. The firm had revenue of $0.01 million during the quarter. As a group, equities analysts anticipate that Kyverna Therapeutics will post -3.29 earnings per share for the current year.

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.