HC Wainwright Lowers Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $6.00

Kyverna Therapeutics (NASDAQ:KYTX) had its price objective cut by investment analysts at HC Wainwright from $7.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 47.06% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Rodman & Renshaw started coverage on shares of Kyverna Therapeutics in a research note on Wednesday, October 9th. They set a “buy” rating and a $16.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company cut their target price on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. UBS Group began coverage on Kyverna Therapeutics in a report on Thursday, October 10th. They set a “buy” rating and a $13.00 price target for the company. Finally, RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $25.71.

Kyverna Therapeutics Stock Down 7.4 %

Shares of KYTX opened at $4.08 on Wednesday. The firm’s fifty day moving average is $5.40 and its two-hundred day moving average is $8.34. Kyverna Therapeutics has a 52-week low of $3.94 and a 52-week high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.01. The business had revenue of $0.01 million for the quarter. As a group, analysts forecast that Kyverna Therapeutics will post -3.31 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

Several hedge funds have recently added to or reduced their stakes in KYTX. FMR LLC purchased a new stake in shares of Kyverna Therapeutics during the 3rd quarter worth $33,000. DekaBank Deutsche Girozentrale purchased a new position in Kyverna Therapeutics in the first quarter valued at approximately $181,000. Teachers Retirement System of The State of Kentucky raised its holdings in Kyverna Therapeutics by 69.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock worth $161,000 after purchasing an additional 8,796 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Kyverna Therapeutics by 32.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock worth $283,000 after buying an additional 9,300 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Kyverna Therapeutics by 55.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock valued at $196,000 after buying an additional 9,385 shares in the last quarter. Institutional investors and hedge funds own 18.08% of the company’s stock.

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.