HC Wainwright Cuts Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $4.00

Kyverna Therapeutics (NASDAQ:KYTX - Free Report) had its price objective lowered by HC Wainwright from $6.00 to $4.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Morgan Stanley decreased their price objective 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. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $18.33.

Kyverna Therapeutics Trading Down 1.8 %

KYTX stock traded down $0.04 during trading on Thursday, hitting $1.88. 119,495 shares of the company's stock were exchanged, compared to its average volume of 346,851. The business has a 50-day moving average price of $2.67 and a two-hundred day moving average price of $3.91. The stock has a market capitalization of $81.03 million, a price-to-earnings ratio of -0.54 and a beta of 2.57. Kyverna Therapeutics has a 52-week low of $1.79 and a 52-week high of $24.91.

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Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.01). On average, equities research analysts anticipate that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Kyverna Therapeutics by 16.7% during the fourth quarter. Wellington Management Group LLP now owns 274,414 shares of the company's stock worth $1,026,000 after buying an additional 39,291 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Kyverna Therapeutics during the 4th quarter valued at approximately $125,000. Squarepoint Ops LLC acquired a new stake in Kyverna Therapeutics during the 4th quarter worth approximately $43,000. Two Sigma Advisers LP grew its stake in shares of Kyverna Therapeutics by 375.1% in the 4th quarter. Two Sigma Advisers LP now owns 80,290 shares of the company's stock valued at $300,000 after purchasing an additional 63,390 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Kyverna Therapeutics by 47.9% in the fourth quarter. Two Sigma Investments LP now owns 181,654 shares of the company's stock valued at $679,000 after purchasing an additional 58,800 shares during the period. 18.08% of the stock is currently owned by institutional investors and hedge funds.

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.