Brokerages Set Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Target Price at $30.00

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $30.00.

KYTX has been the subject of several recent research reports. Wall Street Zen downgraded Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th.

Kyverna Therapeutics Price Performance

Shares of NASDAQ KYTX opened at $7.41 on Monday. The stock has a market cap of $450.45 million, a P/E ratio of -2.26 and a beta of 1.87. The company has a current ratio of 8.15, a quick ratio of 8.15 and a debt-to-equity ratio of 0.13. Kyverna Therapeutics has a 12-month low of $2.80 and a 12-month high of $13.67. The business’s fifty day simple moving average is $8.27 and its 200-day simple moving average is $8.55.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.09. As a group, equities analysts predict that Kyverna Therapeutics will post -2.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of KYTX. Phoenix Wealth Advisors lifted its position in shares of Kyverna Therapeutics by 17.1% in the fourth quarter. Phoenix Wealth Advisors now owns 12,300 shares of the company’s stock valued at $116,000 after acquiring an additional 1,800 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kyverna Therapeutics during the third quarter valued at $28,000. Federated Hermes Inc. increased its position in Kyverna Therapeutics by 36.6% during the 4th quarter. Federated Hermes Inc. now owns 20,705 shares of the company’s stock worth $195,000 after purchasing an additional 5,547 shares in the last quarter. Rhumbline Advisers increased its position in Kyverna Therapeutics by 22.0% during the 1st quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock worth $61,000 after purchasing an additional 5,694 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Kyverna Therapeutics by 41.6% in the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock valued at $81,000 after purchasing an additional 6,400 shares during the last quarter. 18.08% of the stock is owned by institutional investors and hedge funds.

About Kyverna Therapeutics

Kyverna Therapeutics is a clinical‐stage biotechnology company dedicated to developing engineered regulatory T‐cell (Treg) therapies for the treatment of autoimmune and inflammatory diseases. Leveraging a proprietary platform for the isolation, expansion and modification of Treg cells, the company aims to restore immune homeostasis in patients by delivering antigen‐specific cell therapies that selectively target diseased tissues while minimizing systemic immunosuppression.

The company’s lead programs include an allogeneic Treg candidate in clinical development for ulcerative colitis, with additional preclinical assets focused on rheumatoid arthritis and other chronic inflammatory conditions.