Kyverna Therapeutics (NASDAQ:KYTX) Hits New 12-Month High – Still a Buy?

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) reached a new 52-week high during trading on Monday . The stock traded as high as $11.77 and last traded at $12.8660, with a volume of 3990300 shares. The stock had previously closed at $8.78.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their target price on Kyverna Therapeutics from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. William Blair started coverage on shares of Kyverna Therapeutics in a research note on Wednesday, August 20th. They issued an “outperform” rating for the company. HC Wainwright boosted their target price on shares of Kyverna Therapeutics from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Monday, December 8th. Finally, Wells Fargo & Company lifted their price target on shares of Kyverna Therapeutics from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Kyverna Therapeutics Stock Performance

The stock’s 50 day simple moving average is $7.19 and its 200 day simple moving average is $5.00. The firm has a market cap of $473.00 million, a P/E ratio of -2.93 and a beta of 3.65.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.85) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.12. As a group, analysts forecast that Kyverna Therapeutics, Inc. will post -3.29 EPS for the current fiscal year.

Institutional Trading of Kyverna Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP purchased a new stake in shares of Kyverna Therapeutics in the third quarter worth approximately $1,513,000. TD Asset Management Inc grew its holdings in Kyverna Therapeutics by 179.5% during the second quarter. TD Asset Management Inc now owns 252,196 shares of the company’s stock worth $774,000 after buying an additional 161,954 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Kyverna Therapeutics in the 3rd quarter valued at $886,000. Bridgeway Capital Management LLC lifted its stake in Kyverna Therapeutics by 178.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 174,900 shares of the company’s stock valued at $1,049,000 after acquiring an additional 112,000 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Kyverna Therapeutics by 21.9% during the 3rd quarter. Millennium Management LLC now owns 551,635 shares of the company’s stock worth $3,310,000 after acquiring an additional 99,075 shares during the last quarter. 18.08% of the stock is owned by institutional investors.

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.