Kyverna Therapeutics (NASDAQ:KYTX) Shares Up 4.5%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shares were up 4.5% on Tuesday . The stock traded as high as $15.75 and last traded at $15.68. Approximately 46,262 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 395,831 shares. The stock had previously closed at $15.01.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $39.00 target price for the company. SVB Leerink started coverage on Kyverna Therapeutics in a report on Monday, March 4th. They issued an “outperform” rating and a $48.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Kyverna Therapeutics in a research report on Monday, March 4th. Finally, Wells Fargo & Company assumed coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $44.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kyverna Therapeutics has a consensus rating of “Buy” and a consensus price target of $42.75.

Kyverna Therapeutics Stock Performance

The company’s 50-day simple moving average is $24.11.

Insider Buying and Selling

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 purchased at an average price of $22.00 per share, with a total value of $9,900,000.00. Following the completion of the purchase, the insider now owns 450,000 shares of the company’s stock, valued at approximately $9,900,000. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

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.