Short Interest in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Rises By 13.9%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, a growth of 13.9% from the December 31st total of 2,590,000 shares. Currently, 15.8% of the company's shares are short sold. Based on an average trading volume of 335,500 shares, the days-to-cover ratio is presently 8.8 days.

Kyverna Therapeutics Stock Down 4.9 %

Shares of Kyverna Therapeutics stock traded down $0.16 during trading hours on Thursday, reaching $3.11. The company's stock had a trading volume of 112,338 shares, compared to its average volume of 421,043. The stock's fifty day simple moving average is $3.96 and its two-hundred day simple moving average is $5.47. Kyverna Therapeutics has a one year low of $3.02 and a one year high of $35.06.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on KYTX shares. HC Wainwright reduced their price objective on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. RODMAN&RENSHAW raised Kyverna Therapeutics to a "strong-buy" rating in a research report on Wednesday, October 9th. UBS Group assumed coverage on Kyverna Therapeutics in a research note on Thursday, October 10th. They set a "buy" rating and a $13.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, November 15th. Finally, Rodman & Renshaw started coverage on shares of Kyverna Therapeutics in a report on Wednesday, October 9th. They issued a "buy" rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $25.71.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of hedge funds have recently bought and sold shares of KYTX. FMR LLC purchased a new stake in Kyverna Therapeutics during the third quarter worth about $33,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Kyverna Therapeutics during the 4th quarter worth approximately $34,000. Creative Planning bought a new stake in shares of Kyverna Therapeutics in the 3rd quarter worth approximately $54,000. Jacobs Levy Equity Management Inc. purchased a new position in Kyverna Therapeutics in the third quarter valued at approximately $97,000. Finally, Rhumbline Advisers grew its holdings in Kyverna Therapeutics by 31.1% during the fourth quarter. Rhumbline Advisers now owns 25,920 shares of the company's stock valued at $97,000 after purchasing an additional 6,153 shares during the period. 18.08% of the stock is owned by hedge funds and other institutional investors.

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.