Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) have been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.00.

KYTX has been the subject of a number of analyst reports. Wall Street Zen downgraded Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Wednesday, June 24th. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Kyverna Therapeutics in a report on Wednesday, June 3rd.

Institutional Trading of Kyverna Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Kyverna Therapeutics during the second quarter valued at approximately $36,000. California State Teachers Retirement System purchased a new position in Kyverna Therapeutics during the 2nd quarter valued at $46,000. Grey Ledge Advisors LLC purchased a new position in Kyverna Therapeutics during the 1st quarter valued at $86,000. State of Wyoming bought a new position in Kyverna Therapeutics in the 2nd quarter valued at $97,000. Finally, Allianz Asset Management GmbH bought a new position in Kyverna Therapeutics in the 2nd quarter valued at $98,000. 18.08% of the stock is owned by hedge funds and other institutional investors.

Kyverna Therapeutics Trading Up 1.9%

Shares of NASDAQ KYTX opened at $7.40 on Tuesday. The business’s 50 day moving average is $8.06 and its two-hundred day moving average is $8.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 9.06 and a quick ratio of 9.06. Kyverna Therapeutics has a 1-year low of $3.78 and a 1-year high of $13.67. The stock has a market capitalization of $457.64 million, a P/E ratio of -2.52 and a beta of 1.98.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.05. As a group, research analysts expect that Kyverna Therapeutics will post -2.7 EPS for the current year.

About Kyverna Therapeutics

Kyverna Therapeutics is a clinical-stage biotechnology company focused on developing cell therapies for autoimmune diseases. The company is working to apply chimeric antigen receptor T-cell (CAR T) technology, traditionally used in certain blood cancers, to conditions in which the immune system attacks the body’s own tissues.

Kyverna’s lead investigational product, KYV-101, is an autologous, fully human CD19-directed CAR T-cell therapy designed to eliminate B cells that contribute to autoimmune disease.