Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $34.40.

Several equities research analysts have weighed in on the company. HC Wainwright lowered their target price on Kyverna Therapeutics from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. dropped their target price on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st.

Institutional Investors Weigh In On Kyverna Therapeutics

Hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new position in Kyverna Therapeutics in the second quarter valued at about $120,000. Rhumbline Advisers bought a new stake in shares of Kyverna Therapeutics in the 2nd quarter valued at about $150,000. Teachers Retirement System of The State of Kentucky grew its position in shares of Kyverna Therapeutics by 69.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock worth $161,000 after buying an additional 8,796 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Kyverna Therapeutics during the 1st quarter worth approximately $181,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Kyverna Therapeutics by 55.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock worth $196,000 after acquiring an additional 9,385 shares in the last quarter. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

Kyverna Therapeutics Price Performance

Kyverna Therapeutics stock opened at $7.77 on Thursday. The firm has a 50-day moving average of $8.15 and a two-hundred day moving average of $16.14. Kyverna Therapeutics has a 1 year low of $6.30 and a 1 year high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.03. Equities analysts forecast that Kyverna Therapeutics will post -3.34 EPS for the current fiscal year.

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.