Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives $28.71 Consensus Target Price from Brokerages

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has earned an average rating of “Buy” from the nine analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $28.71.

KYTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Rodman & Renshaw assumed coverage on Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 price target for the company. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th. UBS Group began coverage on Kyverna Therapeutics in a research note on Thursday, October 10th. They issued a “buy” rating and a $13.00 target price on the stock. Finally, HC Wainwright reissued a “neutral” rating and set a $7.00 target price on shares of Kyverna Therapeutics in a research note on Thursday, September 19th.

Institutional Investors Weigh In On Kyverna Therapeutics

Several hedge funds have recently made changes to their positions in KYTX. Bain Capital Life Sciences Investors LLC bought a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at about $78,590,000. Jennison Associates LLC purchased a new position in Kyverna Therapeutics during the first quarter valued at approximately $34,743,000. Novo Holdings A S raised its stake in Kyverna Therapeutics by 150.0% in the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after buying an additional 1,050,000 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Kyverna Therapeutics during the first quarter worth $23,093,000. Finally, Janus Henderson Group PLC bought a new stake in Kyverna Therapeutics during the 1st quarter valued at $15,041,000. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

Kyverna Therapeutics Price Performance

NASDAQ KYTX opened at $5.26 on Tuesday. The business’s 50 day moving average price is $5.77 and its 200-day moving average price is $9.03. Kyverna Therapeutics has a fifty-two week low of $4.40 and a fifty-two week high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.03. On average, equities research analysts expect that Kyverna Therapeutics will post -3.38 earnings per share for the current year.

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.