Kyverna Therapeutics (NASDAQ:KYTX) Upgraded by HC Wainwright to Buy Rating

Kyverna Therapeutics (NASDAQ:KYTX) was upgraded by HC Wainwright from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a $5.00 price objective on the stock, up from their previous price objective of $4.00. HC Wainwright’s target price points to a potential upside of 120.26% from the stock’s current price.

Separately, Morgan Stanley dropped their target price on Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Kyverna Therapeutics presently has an average rating of “Buy” and an average target price of $18.50.

Kyverna Therapeutics Price Performance

Shares of NASDAQ:KYTX opened at $2.27 on Tuesday. The company has a market cap of $98.11 million, a price-to-earnings ratio of -0.67 and a beta of 2.17. The firm has a 50 day simple moving average of $2.12 and a 200 day simple moving average of $3.13. Kyverna Therapeutics has a one year low of $1.78 and a one year high of $16.64.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.18. As a group, analysts expect that Kyverna Therapeutics will post -3.29 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Kyverna Therapeutics by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 169,780 shares of the company’s stock worth $635,000 after buying an additional 3,145 shares during the period. Corebridge Financial Inc. raised its position 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 acquiring an additional 3,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Kyverna Therapeutics by 53.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company’s stock worth $53,000 after acquiring an additional 4,990 shares during the period. Rhumbline Advisers boosted its holdings in Kyverna Therapeutics by 22.0% in the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock valued at $61,000 after acquiring an additional 5,694 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Kyverna Therapeutics by 41.6% during the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock valued at $81,000 after purchasing an additional 6,400 shares during the period. 18.08% of the stock is currently owned by institutional investors and hedge funds.

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.