Kyverna Therapeutics (NASDAQ:KYTX) Stock Price Down 6.6%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s stock price was down 6.6% during trading on Thursday . The company traded as low as $16.40 and last traded at $16.54. Approximately 41,878 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 374,995 shares. The stock had previously closed at $17.71.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KYTX shares. JPMorgan Chase & Co. started coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “overweight” rating and a $39.00 price objective for the company. Wells Fargo & Company started coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “overweight” rating and a $44.00 price objective for the company. Morgan Stanley started coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “overweight” rating and a $40.00 price objective for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Kyverna Therapeutics in a research report on Monday, March 4th. Finally, SVB Leerink started coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They set an “outperform” rating and a $48.00 price target for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Kyverna Therapeutics currently has an average rating of “Buy” and a consensus price target of $42.75.

Kyverna Therapeutics Stock Down 2.9 %

The business’s 50-day moving average price is $24.88.

Insider Buying and Selling at Kyverna Therapeutics

In other news, major shareholder Northpond Ventures Iii Gp, Llc purchased 450,000 shares of the stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $22.00 per share, with a total value of $9,900,000.00. Following the completion of the transaction, the insider now owns 450,000 shares in the company, valued at $9,900,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.