Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Sees Significant Increase in Short Interest

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 2,950,000 shares, an increase of 13.9% from the December 31st total of 2,590,000 shares. Based on an average daily volume of 335,500 shares, the short-interest ratio is presently 8.8 days. Currently, 15.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

KYTX has been the topic of several research reports. UBS Group initiated coverage on Kyverna Therapeutics in a report on Thursday, October 10th. They issued a “buy” rating and a $13.00 price target on the stock. Rodman & Renshaw initiated coverage on Kyverna Therapeutics in a report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price target on the stock. Wells Fargo & Company dropped their price target on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, HC Wainwright dropped their price target on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.71.

Hedge Funds Weigh In On Kyverna Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC acquired a new position in shares of Kyverna Therapeutics during the 3rd quarter worth $33,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Kyverna Therapeutics during the 4th quarter worth $34,000. Creative Planning acquired a new position in shares of Kyverna Therapeutics during the 3rd quarter worth $54,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Kyverna Therapeutics during the 3rd quarter worth $97,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Kyverna Therapeutics by 69.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock worth $161,000 after purchasing an additional 8,796 shares during the last quarter. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

Kyverna Therapeutics Stock Performance

Kyverna Therapeutics stock opened at $3.24 on Monday. The company’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $5.58. Kyverna Therapeutics has a 12 month low of $3.15 and a 12 month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.01. The company had revenue of $0.01 million for the quarter. On average, analysts forecast that Kyverna Therapeutics will post -3.29 EPS for the current year.

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.