Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $34.40.

KYTX has been the subject of several research reports. HC Wainwright reissued a “neutral” rating and issued a $7.00 price objective on shares of Kyverna Therapeutics in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st.

Kyverna Therapeutics Trading Down 7.7 %

Shares of KYTX opened at $6.39 on Monday. Kyverna Therapeutics has a 52-week low of $6.30 and a 52-week high of $35.06. The business’s fifty day moving average is $7.90 and its 200-day moving average is $13.51.

Kyverna Therapeutics (NASDAQ:KYTX) last released its earnings results on Monday, August 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.03. Research analysts forecast that Kyverna Therapeutics will post -3.38 earnings per share for the current year.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new position in Kyverna Therapeutics during the 1st quarter worth $181,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Kyverna Therapeutics by 69.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock valued at $161,000 after buying an additional 8,796 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Kyverna Therapeutics by 32.6% during the second quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock worth $283,000 after acquiring an additional 9,300 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Kyverna Therapeutics by 55.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock worth $196,000 after acquiring an additional 9,385 shares during the period. Finally, Federated Hermes Inc. bought a new stake in Kyverna Therapeutics in the second quarter valued at approximately $120,000. Institutional investors and hedge funds own 18.08% of the company’s stock.

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.