Kyverna Therapeutics (NASDAQ:KYTX) Hits New 52-Week Low at $12.16

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $12.16 and last traded at $12.21, with a volume of 161678 shares traded. The stock had previously closed at $13.33.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. SVB Leerink initiated coverage on shares of Kyverna Therapeutics in a report on Monday, March 4th. They issued an “outperform” rating and a $48.00 target price on the stock. Morgan Stanley started coverage on Kyverna Therapeutics in a report on Monday, March 4th. They issued an “overweight” rating and a $40.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of Kyverna Therapeutics in a report on Monday, March 4th. JPMorgan Chase & Co. initiated coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $39.00 price target on the stock. Finally, Wells Fargo & Company started coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $44.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $42.75.

Kyverna Therapeutics Stock Up 4.6 %

The firm has a 50 day moving average price of $19.30.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.28). During the same quarter in the prior year, the business posted ($12.10) earnings per share. On average, research analysts forecast that Kyverna Therapeutics, Inc. will post -3.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of hedge funds have recently modified their holdings of KYTX. Artal Group S.A. bought a new stake in Kyverna Therapeutics during the first quarter valued at about $4,968,000. Janus Henderson Group PLC bought a new stake in Kyverna Therapeutics during the first quarter valued at about $15,041,000. Bain Capital Life Sciences Investors LLC bought a new stake in Kyverna Therapeutics during the first quarter valued at about $78,590,000. Blackstone Inc. bought a new stake in Kyverna Therapeutics during the first quarter valued at about $2,484,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in Kyverna Therapeutics during the first quarter valued at about $23,093,000. 18.08% of the stock is owned by institutional investors and hedge funds.

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.