Kyverna Therapeutics (NASDAQ:KYTX) Shares Up 6.4%

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) rose 6.4% on Monday . The company traded as high as $19.66 and last traded at $19.36. Approximately 145,756 shares were traded during trading, a decline of 62% from the average daily volume of 386,972 shares. The stock had previously closed at $18.20.

Analysts Set New Price Targets

KYTX has been the topic of several recent research reports. Wells Fargo & Company began coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $44.00 price target on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Kyverna Therapeutics in a research report on Monday, March 4th. Morgan Stanley initiated coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $40.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They set an “overweight” rating and a $39.00 price objective on the stock. Finally, SVB Leerink assumed coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They set an “outperform” rating and a $48.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Kyverna Therapeutics currently has an average rating of “Buy” and an average price target of $42.75.

Kyverna Therapeutics Stock Performance

The stock’s 50 day moving average price is $25.68.

Insiders Place Their Bets

In other news, major shareholder Northpond Ventures Iii Gp, Llc bought 450,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $22.00 per share, for a total transaction of $9,900,000.00. Following the purchase, the insider now owns 450,000 shares in the company, valued at $9,900,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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.