Kyverna Therapeutics (NASDAQ:KYTX) Trading 4.5% Higher

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shares shot up 4.5% during mid-day trading on Tuesday . The company traded as high as $15.75 and last traded at $15.68. 46,262 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 395,831 shares. The stock had previously closed at $15.01.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Kyverna Therapeutics in a research note on Monday, March 4th. Wells Fargo & Company assumed coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $44.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $39.00 price objective on the stock. Finally, SVB Leerink began coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They set an “outperform” rating and a $48.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $42.75.

Kyverna Therapeutics Price Performance

The company’s fifty day moving average price is $24.59.

Insider Activity

In other news, major shareholder Northpond Ventures Iii Gp, Llc acquired 450,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $9,900,000.00. Following the completion of the acquisition, the insider now owns 450,000 shares of the company’s stock, valued at approximately $9,900,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.