Kyverna Therapeutics (NASDAQ:KYTX) Given New $20.00 Price Target at Morgan Stanley

Kyverna Therapeutics (NASDAQ:KYTX) had its price target dropped by stock analysts at Morgan Stanley from $40.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock.

Kyverna Therapeutics Stock Performance

NASDAQ KYTX opened at $2.15 on Tuesday. The firm has a market capitalization of $92.82 million and a P/E ratio of -0.62. The stock has a 50-day simple moving average of $2.76 and a two-hundred day simple moving average of $4.03. Kyverna Therapeutics has a fifty-two week low of $1.88 and a fifty-two week high of $24.91.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings results 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, analysts forecast that Kyverna Therapeutics will post -3.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in shares of Kyverna Therapeutics during the 3rd quarter valued at about $33,000. China Universal Asset Management Co. Ltd. purchased a new position in Kyverna Therapeutics during the fourth quarter worth approximately $34,000. Squarepoint Ops LLC acquired a new stake in Kyverna Therapeutics in the fourth quarter valued at approximately $43,000. Corton Capital Inc. purchased a new stake in shares of Kyverna Therapeutics in the fourth quarter valued at approximately $45,000. Finally, Corebridge Financial Inc. raised its stake in shares of Kyverna Therapeutics by 42.3% during the 4th quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock worth $48,000 after buying an additional 3,810 shares during the period. Hedge funds and other institutional investors own 18.08% of the company’s stock.

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.