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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $18.33.

Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Kyverna Therapeutics from $40.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. HC Wainwright decreased their price target on Kyverna Therapeutics from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday.

Kyverna Therapeutics Price Performance

KYTX opened at $1.98 on Tuesday. The company has a market capitalization of $85.57 million, a PE ratio of -0.57 and a beta of 2.57. The business has a 50-day moving average of $2.70 and a 200-day moving average of $3.97. Kyverna Therapeutics has a fifty-two week low of $1.86 and a fifty-two week high of $24.91.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings data 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). On average, equities research analysts expect that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 3,145 shares during the last quarter. Corebridge Financial Inc. increased its position in Kyverna Therapeutics by 42.3% in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kyverna Therapeutics by 53.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,288 shares of the company’s stock worth $53,000 after buying an additional 4,990 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Kyverna Therapeutics by 31.1% in the fourth quarter. Rhumbline Advisers now owns 25,920 shares of the company’s stock valued at $97,000 after acquiring an additional 6,153 shares during the period. 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 acquiring an additional 6,400 shares during 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.