Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives Consensus Recommendation of "Buy" from Brokerages

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) has earned an average recommendation of "Buy" from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.71.

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, November 15th. HC Wainwright reduced their target price on Kyverna Therapeutics from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th.

Kyverna Therapeutics Stock Down 0.3 %

KYTX stock traded down $0.01 on Thursday, hitting $3.03. 295,875 shares of the company's stock were exchanged, compared to its average volume of 439,520. The firm has a 50 day moving average price of $3.63 and a two-hundred day moving average price of $5.13. Kyverna Therapeutics has a 12-month low of $2.64 and a 12-month high of $30.60.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.01. The business had revenue of $0.01 million for the quarter. On average, research analysts expect that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Novo Holdings A S boosted its stake in shares of Kyverna Therapeutics by 5.7% in the third quarter. Novo Holdings A S now owns 1,850,000 shares of the company's stock worth $9,046,000 after buying an additional 100,000 shares during the last quarter. JPMorgan Chase & Co. lifted 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 acquiring an additional 326,095 shares during the period. FMR LLC purchased a new stake in Kyverna Therapeutics in the 3rd quarter worth approximately $33,000. Barclays PLC grew its stake 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 purchasing an additional 12,418 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Kyverna Therapeutics by 2,166.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company's stock valued at $133,000 after purchasing an additional 25,997 shares in the last quarter. 18.08% of the stock is owned by institutional investors and hedge funds.

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.