Kyverna Therapeutics (NASDAQ:KYTX) Stock Price Down 6.6%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s share price was down 6.6% during trading on Thursday . The stock traded as low as $16.40 and last traded at $16.54. Approximately 41,878 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 374,995 shares. The stock had previously closed at $17.71.

Analyst Upgrades and Downgrades

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

Kyverna Therapeutics Stock Down 2.9 %

The stock’s fifty day moving average price is $24.88.

Insider Buying and Selling at Kyverna Therapeutics

In related news, major shareholder Northpond Ventures Iii Gp, Llc bought 450,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $22.00 per share, for a total transaction of $9,900,000.00. Following the completion of the acquisition, the insider now directly owns 450,000 shares in the company, valued at $9,900,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Kyverna Therapeutics Company Profile

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.