Kyverna Therapeutics (NASDAQ:KYTX) Stock Rating Upgraded by HC Wainwright

HC Wainwright upgraded shares of Kyverna Therapeutics (NASDAQ:KYTX) from a neutral rating to a buy rating in a report published on Tuesday, MarketBeat Ratings reports. HC Wainwright currently has $5.00 price target on the stock, up from their previous price target of $4.00.

Separately, Morgan Stanley reduced their price target on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Kyverna Therapeutics presently has an average rating of “Buy” and an average price target of $18.50.

Kyverna Therapeutics Price Performance

Shares of KYTX stock opened at $2.63 on Tuesday. The business has a 50 day simple moving average of $2.14 and a 200 day simple moving average of $3.11. The firm has a market capitalization of $113.67 million, a price-to-earnings ratio of -0.78 and a beta of 2.17. Kyverna Therapeutics has a 12-month low of $1.78 and a 12-month high of $16.64.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.18. On average, equities analysts anticipate that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. bought a new stake in Kyverna Therapeutics during the fourth quarter worth approximately $34,000. Squarepoint Ops LLC acquired a new stake in shares of Kyverna Therapeutics during the 4th quarter valued at $43,000. Corton Capital Inc. bought a new stake in shares of Kyverna Therapeutics during the 4th quarter worth $45,000. Corebridge Financial Inc. grew its holdings in shares of Kyverna Therapeutics by 42.3% in the 4th quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock worth $48,000 after acquiring an additional 3,810 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Kyverna Therapeutics by 53.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company’s stock worth $53,000 after purchasing an additional 4,990 shares during the period. Institutional investors and hedge funds own 18.08% of the company’s stock.

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.