Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Stock Has Consensus Target Price of $29.00 According to Brokerages

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.00.

A number of research firms recently issued reports on KYTX. Benchmark reissued a “buy” rating on shares of Kyverna Therapeutics in a research report on Friday, September 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Monday, September 21st. HC Wainwright reaffirmed a “buy” rating on shares of Kyverna Therapeutics in a research report on Friday, September 25th. Needham & Company LLC set a $25.00 price objective on shares of Kyverna Therapeutics in a research note on Friday, September 25th. Finally, William Blair raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd.

Kyverna Therapeutics Price Performance

KYTX stock opened at $6.32 on Friday. The stock has a 50-day moving average price of $7.70 and a two-hundred day moving average price of $8.31. Kyverna Therapeutics has a 12-month low of $5.30 and a 12-month high of $13.67. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.15. The company has a market cap of $390.83 million, a PE ratio of -2.15 and a beta of 2.06.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. As a group, research analysts predict that Kyverna Therapeutics will post -2.7 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

A number of institutional investors have recently added to or reduced their stakes in KYTX. Legal & General Group Plc purchased a new position in Kyverna Therapeutics in the second quarter valued at about $36,000. Grey Ledge Advisors LLC acquired a new position in shares of Kyverna Therapeutics during the first quarter worth about $86,000. State of Wyoming purchased a new stake in shares of Kyverna Therapeutics in the second quarter worth about $97,000. Allianz Asset Management GmbH purchased a new stake in shares of Kyverna Therapeutics in the second quarter worth about $98,000. Finally, IFP Advisors Inc acquired a new stake in shares of Kyverna Therapeutics in the second quarter valued at about $111,000. 18.08% of the stock is owned by hedge funds and other institutional investors.

About Kyverna Therapeutics

Kyverna Therapeutics is a clinical-stage biotechnology company focused on developing cell therapies for severe autoimmune diseases. The company is working to apply chimeric antigen receptor T-cell (CAR T) technology, traditionally used in certain cancers, to conditions in which abnormal B cells contribute to disease.

Kyverna’s lead product candidate, KYV-101, is an autologous, fully human CD19-directed CAR T-cell therapy designed to eliminate B cells and potentially reset dysfunctional immune responses.