Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Given Average Recommendation of "Buy" by Analysts

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) have been given an average rating of "Buy" by the seven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.33.

KYTX has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday. HC Wainwright decreased their price objective on shares of Kyverna Therapeutics from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Thursday.

Kyverna Therapeutics Price Performance

Shares of NASDAQ:KYTX traded up $0.01 during midday trading on Tuesday, hitting $1.98. The company had a trading volume of 334,476 shares, compared to its average volume of 430,481. Kyverna Therapeutics has a 12-month low of $1.86 and a 12-month high of $24.91. The company has a fifty day moving average of $2.70 and a two-hundred day moving average of $3.99. The company has a market cap of $85.57 million, a price-to-earnings ratio of -0.57 and a beta of 2.57.

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Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.01). 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its position 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 acquiring an additional 39,291 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Kyverna Therapeutics during the 4th quarter valued at about $125,000. Squarepoint Ops LLC bought a new position in shares of Kyverna Therapeutics during the 4th quarter valued at about $43,000. Two Sigma Advisers LP grew its position in shares of Kyverna Therapeutics by 375.1% during the fourth 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 in 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 worth $679,000 after purchasing an additional 58,800 shares during the last quarter. Institutional investors 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.