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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.50.

Several research firms recently commented on KYTX. HC Wainwright raised Kyverna Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $5.00 in a research report on Tuesday. Morgan Stanley cut their target price on 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

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake 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 last quarter. Corebridge Financial Inc. grew its stake in shares of Kyverna Therapeutics by 42.3% in the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock worth $48,000 after purchasing an additional 3,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 purchasing an additional 4,990 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Kyverna Therapeutics by 22.0% in the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock worth $61,000 after purchasing an additional 5,694 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Kyverna Therapeutics by 41.6% in the fourth quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock worth $81,000 after purchasing an additional 6,400 shares in the last quarter. 18.08% of the stock is currently owned by institutional investors.

Kyverna Therapeutics Stock Performance

Shares of NASDAQ:KYTX opened at $2.58 on Wednesday. Kyverna Therapeutics has a 1 year low of $1.78 and a 1 year high of $16.64. The stock has a market capitalization of $111.51 million, a P/E ratio of -0.76 and a beta of 2.17. The stock has a 50-day simple moving average of $2.13 and a 200-day simple moving average of $3.13.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.18. Analysts predict that Kyverna Therapeutics will post -3.29 earnings per share for the current 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.