JPMorgan Chase & Co. Has Lowered Expectations for Kyverna Therapeutics (NASDAQ:KYTX) Stock Price

Kyverna Therapeutics (NASDAQ:KYTX) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $30.00 to $29.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 172.68% from the stock’s current price.

KYTX has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Kyverna Therapeutics in a research note on Thursday, April 23rd. Wall Street Zen lowered shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.75.

Kyverna Therapeutics Trading Up 4.0%

KYTX stock traded up $0.41 during midday trading on Wednesday, reaching $10.64. The company’s stock had a trading volume of 768,238 shares, compared to its average volume of 859,373. Kyverna Therapeutics has a 52 week low of $2.06 and a 52 week high of $13.67. The stock has a market cap of $643.74 million, a PE ratio of -2.86 and a beta of 2.05. The company has a quick ratio of 7.75, a current ratio of 7.75 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $8.93 and its 200-day simple moving average is $8.32.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.09. As a group, sell-side analysts expect that Kyverna Therapeutics will post -3.18 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AIGH Capital Management LLC lifted its holdings in shares of Kyverna Therapeutics by 33.3% during the 1st quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock worth $17,260,000 after acquiring an additional 500,000 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kyverna Therapeutics by 16.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,762,617 shares of the company’s stock worth $16,569,000 after acquiring an additional 250,418 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Kyverna Therapeutics during the 4th quarter worth approximately $15,667,000. Vanguard Group Inc. lifted its holdings in shares of Kyverna Therapeutics by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,322,625 shares of the company’s stock worth $7,936,000 after acquiring an additional 9,858 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Kyverna Therapeutics during the 4th quarter worth approximately $9,220,000. Institutional investors own 18.08% of the company’s stock.

About Kyverna Therapeutics

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.