Kyverna Therapeutics (NASDAQ:KYTX) Given New $24.00 Price Target at Wells Fargo & Company

Kyverna Therapeutics (NASDAQ:KYTX) had its target price trimmed by Wells Fargo & Company from $44.00 to $24.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Rodman & Renshaw initiated coverage on Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th. HC Wainwright reissued a “neutral” rating and issued a $7.00 price objective on shares of Kyverna Therapeutics in a research report on Thursday, September 19th. Finally, UBS Group began coverage on shares of Kyverna Therapeutics in a report on Thursday, October 10th. They set a “buy” rating and a $13.00 target price on the stock. One 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 stock. According to MarketBeat.com, Kyverna Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $25.86.

Kyverna Therapeutics Stock Down 9.4 %

Shares of NASDAQ KYTX traded down $0.45 during trading on Friday, hitting $4.35. 280,159 shares of the company traded hands, compared to its average volume of 457,970. The company has a 50-day moving average price of $5.46 and a 200-day moving average price of $8.52. Kyverna Therapeutics has a 1 year low of $4.30 and a 1 year high of $35.06.

Institutional Trading of Kyverna Therapeutics

Large investors have recently modified their holdings of the business. Vanguard Group Inc. purchased a new position in Kyverna Therapeutics in the first quarter valued at about $6,563,000. StemPoint Capital LP purchased a new position in shares of Kyverna Therapeutics during the 1st quarter valued at approximately $1,018,000. Avoro Capital Advisors LLC acquired a new stake in shares of Kyverna Therapeutics during the first quarter worth approximately $11,799,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Kyverna Therapeutics in the first quarter worth $23,093,000. Finally, Blackstone Inc. bought a new stake in shares of Kyverna Therapeutics in the first quarter worth $2,484,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

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.