Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.33.

Several equities research analysts have weighed in on the company. HC Wainwright dropped their price objective on Kyverna Therapeutics from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Morgan Stanley dropped their price target on Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st.

Institutional Investors Weigh In On Kyverna Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC bought a new stake in shares of Kyverna Therapeutics during the 3rd quarter valued at $33,000. China Universal Asset Management Co. Ltd. bought a new stake in Kyverna Therapeutics during the fourth quarter worth about $34,000. Squarepoint Ops LLC purchased a new stake in Kyverna Therapeutics in the fourth quarter worth about $43,000. Corton Capital Inc. bought a new position in shares of Kyverna Therapeutics during the fourth quarter valued at approximately $45,000. Finally, Corebridge Financial Inc. lifted 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 valued at $48,000 after purchasing 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 Stock Performance

Shares of Kyverna Therapeutics stock opened at $1.91 on Tuesday. The company’s 50 day moving average price is $2.67 and its 200-day moving average price is $3.91. Kyverna Therapeutics has a 52-week low of $1.79 and a 52-week high of $24.91. The stock has a market capitalization of $82.54 million, a price-to-earnings ratio of -0.55 and a beta of 2.57.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.01). As a group, equities research analysts forecast that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Kyverna Therapeutics Company Profile

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.