Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Sees Significant Increase in Short Interest

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, an increase of 13.9% from the December 31st total of 2,590,000 shares. Approximately 15.8% of the shares of the company are short sold. Based on an average daily trading volume, of 335,500 shares, the short-interest ratio is presently 8.8 days.

Hedge Funds Weigh In On Kyverna Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Kyverna Therapeutics by 15.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock worth $11,674,000 after purchasing an additional 326,095 shares in the last quarter. Novo Holdings A S increased its position in shares of Kyverna Therapeutics by 5.7% during the 3rd quarter. Novo Holdings A S now owns 1,850,000 shares of the company’s stock worth $9,046,000 after purchasing an additional 100,000 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Kyverna Therapeutics by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 936,961 shares of the company’s stock worth $4,582,000 after purchasing an additional 113,922 shares in the last quarter. Millennium Management LLC increased its position in shares of Kyverna Therapeutics by 32.8% during the 2nd quarter. Millennium Management LLC now owns 923,082 shares of the company’s stock worth $6,923,000 after purchasing an additional 227,988 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Kyverna Therapeutics by 19.0% during the 3rd quarter. Geode Capital Management LLC now owns 443,312 shares of the company’s stock worth $2,168,000 after purchasing an additional 70,714 shares in the last quarter. 18.08% of the stock is owned by institutional investors.

Kyverna Therapeutics Stock Down 2.1 %

NASDAQ:KYTX opened at $3.24 on Monday. The company has a 50-day moving average of $4.08 and a 200-day moving average of $5.58. Kyverna Therapeutics has a 52 week low of $3.15 and a 52 week high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.01. The business had revenue of $0.01 million for the quarter. Equities research analysts predict that Kyverna Therapeutics will post -3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KYTX shares. UBS Group started coverage on shares of Kyverna Therapeutics in a report on Thursday, October 10th. They set a “buy” rating and a $13.00 price objective for the company. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price target for the company. HC Wainwright reduced their price target on shares of Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Wells Fargo & Company reduced their price target on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kyverna Therapeutics currently has an average rating of “Buy” and a consensus target price of $25.71.

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.