HC Wainwright Initiates Coverage on Kyverna Therapeutics (NASDAQ:KYTX)

Equities research analysts at HC Wainwright started coverage on shares of Kyverna Therapeutics (NASDAQ:KYTX) in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $8.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 4.17% from the stock’s previous close.

Kyverna Therapeutics Price Performance

Shares of KYTX stock opened at $7.68 on Wednesday. The firm has a 50-day moving average price of $12.16. Kyverna Therapeutics has a one year low of $6.75 and a one year high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.28). During the same quarter in the previous year, the firm posted ($12.10) EPS. On average, equities research analysts anticipate that Kyverna Therapeutics will post -3.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Kyverna Therapeutics during the first quarter worth $181,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Kyverna Therapeutics during the 1st quarter valued at $313,000. StemPoint Capital LP purchased a new stake in Kyverna Therapeutics during the 1st quarter worth about $1,018,000. Blackstone Inc. bought a new position in Kyverna Therapeutics in the 1st quarter worth about $2,484,000. Finally, Artal Group S.A. purchased a new position in Kyverna Therapeutics during the 1st quarter valued at about $4,968,000. 18.08% of the stock is owned by institutional investors.

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.