Kyverna Therapeutics (NASDAQ:KYTX) Shares Down 7.2% – What’s Next?

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s stock price dropped 7.2% during mid-day trading on Tuesday . The stock traded as low as $10.65 and last traded at $10.4380. Approximately 284,627 shares traded hands during trading, a decline of 63% from the average daily volume of 759,141 shares. The stock had previously closed at $11.25.

Analyst Ratings Changes

KYTX has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Kyverna Therapeutics in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Friday, March 27th. Finally, Wall Street Zen downgraded Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Kyverna Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $28.67.

Kyverna Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 7.75 and a current ratio of 7.75. The firm has a market capitalization of $541.56 million, a P/E ratio of -2.45 and a beta of 2.62. The company has a 50-day moving average price of $8.58 and a 200-day moving average price of $8.10.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.80). On average, sell-side analysts predict that Kyverna Therapeutics, Inc. will post -3.18 earnings per share for the current year.

Institutional Trading of Kyverna Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Wesbanco Bank Inc. acquired a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at about $952,000. Grey Ledge Advisors LLC bought a new position in shares of Kyverna Therapeutics in the 1st quarter valued at about $86,000. Banque Cantonale Vaudoise bought a new position in Kyverna Therapeutics during the first quarter worth about $263,000. Empowered Funds LLC bought a new position in Kyverna Therapeutics during the fourth quarter worth about $169,000. Finally, Quadrature Capital Ltd bought a new position in Kyverna Therapeutics during the fourth quarter worth about $539,000. Institutional investors and hedge funds own 18.08% of the company’s stock.

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.