Kyverna Therapeutics (NASDAQ:KYTX) Price Target Lowered to $24.00 at Wells Fargo & Company

Kyverna Therapeutics (NASDAQ:KYTX) had its price target lowered by Wells Fargo & Company from $44.00 to $24.00 in a report issued on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the company. HC Wainwright reissued a “neutral” rating and set a $7.00 price objective on shares of Kyverna Therapeutics in a report on Thursday, September 19th. UBS Group began coverage on Kyverna Therapeutics in a report on Thursday, October 10th. They set a “buy” rating and a $13.00 price objective for the company. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. Rodman & Renshaw began coverage on Kyverna Therapeutics in a report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kyverna Therapeutics currently has an average rating of “Buy” and an average price target of $25.86.

Kyverna Therapeutics Stock Up 1.3 %

Shares of KYTX opened at $4.41 on Friday. The stock has a 50 day moving average of $5.46 and a 200 day moving average of $8.42. Kyverna Therapeutics has a 12 month low of $4.30 and a 12 month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.01. The firm had revenue of $0.01 million for the quarter. Research analysts predict that Kyverna Therapeutics will post -3.31 earnings per share for the current year.

Institutional Investors Weigh In On Kyverna Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Kyverna Therapeutics by 19.0% during the third quarter. Geode Capital Management LLC now owns 443,312 shares of the company’s stock valued at $2,168,000 after buying an additional 70,714 shares during the period. Barclays PLC boosted its stake in Kyverna Therapeutics by 21.5% during the third quarter. Barclays PLC now owns 70,167 shares of the company’s stock valued at $343,000 after buying an additional 12,418 shares during the period. Jane Street Group LLC boosted its stake in Kyverna Therapeutics by 78.3% during the third quarter. Jane Street Group LLC now owns 39,193 shares of the company’s stock valued at $192,000 after buying an additional 17,215 shares during the period. Sphera Funds Management LTD. boosted its stake in Kyverna Therapeutics by 5.3% during the third quarter. Sphera Funds Management LTD. now owns 248,651 shares of the company’s stock valued at $1,216,000 after buying an additional 12,622 shares during the period. Finally, State Street Corp boosted its stake in Kyverna Therapeutics by 3.2% during the third quarter. State Street Corp now owns 326,192 shares of the company’s stock valued at $1,595,000 after buying an additional 10,244 shares during the period. 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.