Kyverna Therapeutics (NASDAQ:KYTX - Free Report) had its target price cut by Morgan Stanley from $40.00 to $20.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.
Kyverna Therapeutics Stock Up 0.5 %
Kyverna Therapeutics stock traded up $0.01 during midday trading on Tuesday, reaching $1.98. The company's stock had a trading volume of 334,476 shares, compared to its average volume of 430,481. The business has a 50-day simple moving average of $2.70 and a 200-day simple moving average of $3.99. The company has a market cap of $85.57 million, a P/E ratio of -0.57 and a beta of 2.57. Kyverna Therapeutics has a fifty-two week low of $1.86 and a fifty-two week high of $24.91.
Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last posted its earnings results 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). As a group, equities analysts forecast that Kyverna Therapeutics will post -3.29 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of KYTX. FMR LLC acquired a new position in Kyverna Therapeutics in the third quarter valued at $33,000. China Universal Asset Management Co. Ltd. purchased a new stake in Kyverna Therapeutics in the 4th quarter valued at $34,000. Squarepoint Ops LLC purchased a new stake in shares of Kyverna Therapeutics in the fourth quarter valued at about $43,000. Corton Capital Inc. acquired a new stake in shares of Kyverna Therapeutics during the fourth quarter worth about $45,000. Finally, Corebridge Financial Inc. grew its holdings in shares of Kyverna Therapeutics by 42.3% during the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company's stock worth $48,000 after buying an additional 3,810 shares during the last quarter. 18.08% of the stock is owned by hedge funds and other institutional investors.
Kyverna Therapeutics Company Profile
(
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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.
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