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

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $18.50.

A number of brokerages have recently issued reports on KYTX. HC Wainwright upgraded Kyverna Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $5.00 in a research report on Tuesday, May 27th. Morgan Stanley lowered their price objective 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.

Kyverna Therapeutics Trading Down 1.7%

Shares of KYTX stock opened at $2.91 on Friday. The business’s 50-day moving average price is $2.43 and its 200-day moving average price is $2.94. Kyverna Therapeutics has a 12 month low of $1.78 and a 12 month high of $11.40. The firm has a market capitalization of $125.77 million, a price-to-earnings ratio of -0.86 and a beta of 2.52.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.18. On average, sell-side analysts predict that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in Kyverna Therapeutics by 31.1% in the fourth quarter. Rhumbline Advisers now owns 25,920 shares of the company’s stock worth $97,000 after purchasing an additional 6,153 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kyverna Therapeutics by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 169,780 shares of the company’s stock worth $635,000 after purchasing an additional 3,145 shares in the last quarter. Corebridge Financial Inc. increased its holdings in 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. Norges Bank bought a new stake in Kyverna Therapeutics in the fourth quarter worth approximately $150,000. Finally, Wellington Management Group LLP increased its holdings in Kyverna Therapeutics by 16.7% in the fourth quarter. Wellington Management Group LLP now owns 274,414 shares of the company’s stock worth $1,026,000 after purchasing an additional 39,291 shares in the last quarter. 18.08% of the stock is currently owned by institutional investors.

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.