Kyverna Therapeutics (NASDAQ:KYTX) Shares Up 8.7%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shot up 8.7% during mid-day trading on Thursday . The stock traded as high as $13.85 and last traded at $13.76. 86,522 shares were traded during trading, a decline of 78% from the average session volume of 400,374 shares. The stock had previously closed at $12.66.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KYTX. Leerink Partnrs reaffirmed an “outperform” rating on shares of Kyverna Therapeutics in a report on Monday, March 4th. JPMorgan Chase & Co. assumed coverage on shares of Kyverna Therapeutics in a report on Monday, March 4th. They issued an “overweight” rating and a $39.00 price target for the company. Wells Fargo & Company assumed coverage on shares of Kyverna Therapeutics in a report on Monday, March 4th. They issued an “overweight” rating and a $44.00 price target for the company. SVB Leerink assumed coverage on shares of Kyverna Therapeutics in a report on Monday, March 4th. They issued an “outperform” rating and a $48.00 price target for the company. Finally, Morgan Stanley assumed coverage on shares of Kyverna Therapeutics in a report on Monday, March 4th. They issued an “overweight” rating and a $40.00 price target for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $42.75.

Kyverna Therapeutics Stock Performance

The company’s 50 day simple moving average is $22.74.

Insider Activity

In other Kyverna Therapeutics news, major shareholder Northpond Ventures Iii Gp, Llc acquired 450,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $22.00 per share, for a total transaction of $9,900,000.00. Following the purchase, the insider now owns 450,000 shares in the company, valued at approximately $9,900,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Kyverna Therapeutics

An institutional investor recently bought a new position in Kyverna Therapeutics stock. Jennison Associates LLC bought a new position in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,398,659 shares of the company’s stock, valued at approximately $34,743,000. Jennison Associates LLC owned approximately 3.24% of Kyverna Therapeutics as of its most recent SEC filing. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

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.