Kyverna Therapeutics (NASDAQ:KYTX) Trading Up 4.5%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s stock price rose 4.5% during mid-day trading on Tuesday . The stock traded as high as $15.75 and last traded at $15.68. Approximately 46,262 shares traded hands during trading, a decline of 88% from the average daily volume of 395,831 shares. The stock had previously closed at $15.01.

Wall Street Analyst Weigh In

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

Kyverna Therapeutics Stock Performance

The stock has a 50-day moving average of $24.11.

Insider Transactions at Kyverna Therapeutics

In other Kyverna Therapeutics news, major shareholder Northpond Ventures Iii Gp, Llc bought 450,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $9,900,000.00. Following the completion of the purchase, the insider now owns 450,000 shares of the company’s stock, valued at approximately $9,900,000. The purchase was disclosed in a filing with the SEC, which is available 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.