Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Stock Rated “Moderate Buy” by Wall Street Analysts

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.00.

A number of brokerages recently weighed in on KYTX. Benchmark reiterated a “buy” rating on shares of Kyverna Therapeutics in a research note on Friday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Monday, September 21st. HC Wainwright reaffirmed a “buy” rating on shares of Kyverna Therapeutics in a report on Friday, September 25th. Needham & Company LLC set a $25.00 target price on shares of Kyverna Therapeutics in a research note on Friday, September 25th. Finally, William Blair raised Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd.

Kyverna Therapeutics Price Performance

Shares of NASDAQ KYTX opened at $6.39 on Friday. The stock has a market cap of $395.16 million, a P/E ratio of -2.17 and a beta of 2.06. Kyverna Therapeutics has a twelve month low of $5.96 and a twelve month high of $13.67. The stock has a 50 day moving average of $7.61 and a two-hundred day moving average of $8.25. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.15.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Tuesday, August 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. On average, research analysts forecast that Kyverna Therapeutics will post -2.70 earnings per share for the current year.

Institutional Trading of Kyverna Therapeutics

A number of hedge funds have recently added to or reduced their stakes in KYTX. BlackRock Inc. acquired a new position in shares of Kyverna Therapeutics in the second quarter valued at approximately $27,931,000. AIGH Capital Management LLC acquired a new stake in shares of Kyverna Therapeutics during the second quarter worth $24,911,000. Propel Bio Management LLC acquired a new stake in shares of Kyverna Therapeutics during the fourth quarter worth $6,267,000. Renaissance Technologies LLC grew its position in Kyverna Therapeutics by 106.6% in the 1st quarter. Renaissance Technologies LLC now owns 367,492 shares of the company’s stock valued at $3,171,000 after buying an additional 189,593 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Kyverna Therapeutics in the 2nd quarter valued at $2,365,000. 18.08% of the stock is owned by institutional investors and hedge funds.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics is a clinical-stage biotechnology company focused on developing cell therapies for severe autoimmune diseases. The company is working to apply chimeric antigen receptor T-cell (CAR T) technology, traditionally used in certain cancers, to conditions in which abnormal B cells contribute to disease.

Kyverna’s lead product candidate, KYV-101, is an autologous, fully human CD19-directed CAR T-cell therapy designed to eliminate B cells and potentially reset dysfunctional immune responses.