Kyverna Therapeutics (NASDAQ:KYTX) Trading Up 6.7% – What’s Next?

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) rose 6.7% during mid-day trading on Monday . The stock traded as high as $8.76 and last traded at $8.72. Approximately 546,245 shares traded hands during trading, a decline of 41% from the average daily volume of 928,649 shares. The stock had previously closed at $8.17.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Wednesday, June 24th. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Wall Street Zen cut shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Kyverna Therapeutics Trading Down 5.0%

The firm has a market cap of $525.64 million, a PE ratio of -2.89 and a beta of 1.93. The company has a 50-day simple moving average of $8.11 and a 200 day simple moving average of $8.43. 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 quarterly earnings results on Wednesday, August 12th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.05. As a group, sell-side analysts forecast that Kyverna Therapeutics, Inc. will post -2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of KYTX. Public Employees Retirement System of Ohio purchased a new stake in Kyverna Therapeutics in the third quarter valued at $28,000. Legal & General Group Plc purchased a new stake in Kyverna Therapeutics in the 2nd quarter valued at about $36,000. Qube Research & Technologies Ltd acquired a new position in Kyverna Therapeutics in the second quarter valued at about $43,000. Rhumbline Advisers lifted its position in Kyverna Therapeutics by 22.0% in the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock valued at $61,000 after buying an additional 5,694 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in Kyverna Therapeutics during the third quarter worth about $77,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

Kyverna Therapeutics Company Profile

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.