Analysts Set Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Target Price at $18.33

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $18.33.

A number of research analysts have issued reports on KYTX shares. HC Wainwright reduced their price objective on shares of Kyverna Therapeutics from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley reduced their price target on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 1st.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. purchased a new stake in Kyverna Therapeutics in the fourth quarter worth about $34,000. Squarepoint Ops LLC purchased a new stake in shares of Kyverna Therapeutics in the 4th quarter worth approximately $43,000. Corton Capital Inc. bought a new position in Kyverna Therapeutics during the 4th quarter valued at approximately $45,000. Corebridge Financial Inc. raised its stake in 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 buying an additional 3,810 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Kyverna Therapeutics by 53.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company’s stock valued at $53,000 after buying an additional 4,990 shares during the last quarter. 18.08% of the stock is currently owned by institutional investors.

Kyverna Therapeutics Trading Up 2.7 %

Shares of NASDAQ:KYTX opened at $2.28 on Friday. The company has a 50-day moving average price of $2.25 and a 200-day moving average price of $3.50. The company has a market cap of $98.54 million, a price-to-earnings ratio of -0.66 and a beta of 2.57. Kyverna Therapeutics has a 12 month low of $1.78 and a 12 month high of $17.55.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data 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, research analysts forecast that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

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.