Kyverna Therapeutics, Inc. (NASDAQ:KYTX – Get Free Report) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,680,000 shares, a decline of 8.5% from the August 15th total of 2,930,000 shares. Approximately 15.2% of the company’s stock are sold short. Based on an average trading volume of 605,900 shares, the days-to-cover ratio is currently 4.4 days.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. HC Wainwright decreased their price objective on shares of Kyverna Therapeutics from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their price target on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kyverna Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $34.40.
Get Our Latest Stock Analysis on KYTX
Institutional Investors Weigh In On Kyverna Therapeutics
Kyverna Therapeutics Trading Down 3.3 %
Shares of NASDAQ KYTX traded down $0.23 during mid-day trading on Tuesday, reaching $6.66. The company had a trading volume of 406,605 shares, compared to its average volume of 487,799. Kyverna Therapeutics has a 52-week low of $6.30 and a 52-week high of $35.06. The firm has a 50 day simple moving average of $8.06 and a two-hundred day simple moving average of $13.97.
Kyverna Therapeutics (NASDAQ:KYTX – Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.03. On average, sell-side analysts expect that Kyverna Therapeutics will post -3.38 earnings per share for the current fiscal year.
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.
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