Kyverna Therapeutics (NASDAQ:KYTX) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Kyverna Therapeutics (NASDAQ:KYTX) from a hold rating to a sell rating in a report published on Saturday morning.

Several other research analysts have also recently weighed in on KYTX. Morgan Stanley set a $33.00 price target on shares of Kyverna Therapeutics in a research note on Monday, December 15th. HC Wainwright lifted their target price on Kyverna Therapeutics from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Wells Fargo & Company upped their price target on Kyverna Therapeutics from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.67.

Kyverna Therapeutics Stock Performance

Kyverna Therapeutics stock opened at $8.13 on Friday. Kyverna Therapeutics has a one year low of $1.78 and a one year high of $13.67. The stock has a fifty day moving average of $7.82 and a 200 day moving average of $5.65. The stock has a market cap of $356.09 million, a PE ratio of -2.18 and a beta of 3.45.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.12. As a group, sell-side analysts predict that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Insider Activity

In related news, Director Beth C. Seidenberg bought 133,333 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of $7.50 per share, for a total transaction of $999,997.50. Following the completion of the transaction, the director owned 869,317 shares in the company, valued at $6,519,877.50. The trade was a 18.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Biopartners Opportuni Westlake bought 133,333 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average cost of $7.50 per share, with a total value of $999,997.50. Following the completion of the purchase, the insider directly owned 869,317 shares of the company’s stock, valued at $6,519,877.50. This represents a 18.12% increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KYTX. Woodline Partners LP purchased a new stake in shares of Kyverna Therapeutics in the third quarter worth about $1,513,000. TD Asset Management Inc increased its stake in Kyverna Therapeutics by 179.5% in the 2nd quarter. TD Asset Management Inc now owns 252,196 shares of the company’s stock worth $774,000 after acquiring an additional 161,954 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Kyverna Therapeutics during the 3rd quarter worth approximately $886,000. Bridgeway Capital Management LLC raised its holdings in shares of Kyverna Therapeutics by 178.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 174,900 shares of the company’s stock worth $1,049,000 after acquiring an additional 112,000 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Kyverna Therapeutics by 21.9% during the 3rd quarter. Millennium Management LLC now owns 551,635 shares of the company’s stock valued at $3,310,000 after acquiring an additional 99,075 shares during the last quarter. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Company Profile

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.