Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives Average Rating of “Buy” from Brokerages

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.71.

A number of equities analysts have commented on KYTX shares. Wells Fargo & Company reduced their price objective on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. HC Wainwright cut their price target on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th.

Kyverna Therapeutics Price Performance

Kyverna Therapeutics stock opened at $2.89 on Thursday. The business’s fifty day moving average is $3.53 and its two-hundred day moving average is $5.05. Kyverna Therapeutics has a 52 week low of $2.64 and a 52 week high of $30.60.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KYTX. FMR LLC bought a new stake in Kyverna Therapeutics in the third quarter valued at about $33,000. China Universal Asset Management Co. Ltd. bought a new stake in Kyverna Therapeutics in the fourth quarter valued at about $34,000. Squarepoint Ops LLC bought a new stake in Kyverna Therapeutics in the fourth quarter valued at about $43,000. Corton Capital Inc. bought a new stake in Kyverna Therapeutics in the fourth quarter valued at about $45,000. Finally, Corebridge Financial Inc. increased its holdings in Kyverna Therapeutics by 42.3% in the fourth quarter. Corebridge Financial Inc. now owns 12,811 shares of the company’s stock valued at $48,000 after purchasing an additional 3,810 shares during the last quarter. Institutional investors own 18.08% of the company’s stock.

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.