Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Free Report) by 26.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 692,028 shares of the company's stock after selling 244,933 shares during the quarter. Franklin Resources Inc. owned approximately 1.60% of Kyverna Therapeutics worth $2,588,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Kyverna Therapeutics by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company's stock valued at $11,674,000 after buying an additional 326,095 shares during the last quarter. FMR LLC purchased a new position in shares of Kyverna Therapeutics in the 3rd quarter valued at about $33,000. Barclays PLC raised its position in shares of Kyverna Therapeutics by 21.5% during the 3rd quarter. Barclays PLC now owns 70,167 shares of the company's stock worth $343,000 after acquiring an additional 12,418 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Kyverna Therapeutics by 2,166.4% during the third quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company's stock worth $133,000 after purchasing an additional 25,997 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Kyverna Therapeutics by 78.3% in the third quarter. Jane Street Group LLC now owns 39,193 shares of the company's stock valued at $192,000 after purchasing an additional 17,215 shares in the last quarter. 18.08% of the stock is owned by hedge funds and other institutional investors.

Kyverna Therapeutics Stock Up 1.6 %

NASDAQ:KYTX traded up $0.03 during trading hours on Friday, reaching $1.86. 286,269 shares of the company's stock were exchanged, compared to its average volume of 429,837. Kyverna Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $20.40. The firm has a market capitalization of $80.38 million, a price-to-earnings ratio of -0.54 and a beta of 2.57. The company has a 50-day moving average of $2.42 and a 200 day moving average of $3.70.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KYTX shares. Morgan Stanley cut their price objective on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, April 1st. HC Wainwright reduced their price target on shares of Kyverna Therapeutics from $6.00 to $4.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. One research 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 stock. Based on data from MarketBeat.com, Kyverna Therapeutics currently has an average rating of "Buy" and an average price target of $18.33.

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.