Kyverna Therapeutics (NASDAQ:KYTX) Trading Down 7.3% – Here’s What Happened

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s stock price was down 7.3% during trading on Thursday . The stock traded as low as $8.33 and last traded at $8.2220. Approximately 105,578 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 925,923 shares. The stock had previously closed at $8.87.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KYTX. JPMorgan Chase & Co. reduced their price target on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Wednesday, June 24th. Finally, Wall Street Zen downgraded Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Kyverna Therapeutics Trading Up 3.6%

The company has a market capitalization of $520.69 million, a price-to-earnings ratio of -2.86 and a beta of 1.93. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average price is $8.15 and its two-hundred day moving average price is $8.43.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. On average, equities analysts predict that Kyverna Therapeutics, Inc. will post -2.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. RFG Advisory LLC bought a new stake in Kyverna Therapeutics during the 4th quarter worth $4,185,000. AIGH Capital Management LLC raised its position in Kyverna Therapeutics by 33.3% in the first quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock valued at $17,260,000 after purchasing an additional 500,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Kyverna Therapeutics by 106.6% during the first quarter. Renaissance Technologies LLC now owns 367,492 shares of the company’s stock worth $3,171,000 after purchasing an additional 189,593 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Kyverna Therapeutics in the second quarter valued at approximately $2,188,000. Finally, Simplify Asset Management Inc. acquired a new position in shares of Kyverna Therapeutics in the fourth quarter valued at approximately $1,808,000. 18.08% of the stock is currently owned by institutional investors.

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.