Kyverna Therapeutics (NASDAQ:KYTX) Trading Down 6.6%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) dropped 6.6% during trading on Thursday . The company traded as low as $16.40 and last traded at $16.54. Approximately 41,878 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 374,995 shares. The stock had previously closed at $17.71.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Leerink Partnrs reiterated an “outperform” rating on shares of Kyverna Therapeutics in a research report on Monday, March 4th. Morgan Stanley initiated coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “overweight” rating and a $40.00 target price on the stock. Wells Fargo & Company began coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an “overweight” rating and a $44.00 price target for the company. JPMorgan Chase & Co. began coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $39.00 price objective for the company. Finally, SVB Leerink began coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “outperform” rating and a $48.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $42.75.

Kyverna Therapeutics Stock Performance

The firm’s fifty day simple moving average is $25.43.

Insider Activity at Kyverna Therapeutics

In other Kyverna Therapeutics news, major shareholder Northpond Ventures Iii Gp, Llc acquired 450,000 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $22.00 per share, with a total value of $9,900,000.00. Following the transaction, the insider now owns 450,000 shares in the company, valued at approximately $9,900,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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.