Kyverna Therapeutics (NASDAQ:KYTX) Hits New 12-Month High – Still a Buy?

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $11.77 and last traded at $12.8660, with a volume of 3990300 shares traded. The stock had previously closed at $8.78.

Analyst Ratings Changes

KYTX has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Kyverna Therapeutics from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Wall Street Zen raised Kyverna Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. HC Wainwright lifted their price target on Kyverna Therapeutics from $10.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Morgan Stanley upped their price objective on Kyverna Therapeutics from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Monday, December 8th. Four 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.33.

Kyverna Therapeutics Trading Up 23.0%

The business has a 50-day moving average price of $7.19 and a 200 day moving average price of $5.00. The stock has a market cap of $473.00 million, a PE ratio of -2.93 and a beta of 3.65.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.85) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.12. On average, equities analysts predict that Kyverna Therapeutics, Inc. will post -3.29 earnings per share for the current year.

Institutional Trading of Kyverna Therapeutics

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

Kyverna Therapeutics Company Profile

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.