HC Wainwright Cuts Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $6.00

Kyverna Therapeutics (NASDAQ:KYTX) had its target price reduced by HC Wainwright from $7.00 to $6.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently commented on KYTX. UBS Group began coverage on shares of Kyverna Therapeutics in a research report on Thursday, October 10th. They issued a “buy” rating and a $13.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. RODMAN&RENSHAW upgraded shares of Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. Rodman & Renshaw began coverage on Kyverna Therapeutics in a research report on Wednesday, October 9th. They set a “buy” rating and a $16.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. 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 stock. Based on data from MarketBeat.com, Kyverna Therapeutics has an average rating of “Buy” and an average price target of $25.71.

Kyverna Therapeutics Price Performance

KYTX stock opened at $4.12 on Wednesday. Kyverna Therapeutics has a 52-week low of $3.94 and a 52-week high of $35.06. The company’s 50-day simple moving average is $5.34 and its 200-day simple moving average is $8.26.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.01. The company had revenue of $0.01 million during the quarter. On average, sell-side analysts forecast that Kyverna Therapeutics will post -3.31 EPS for the current year.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of large investors have recently made changes to their positions in the stock. FMR LLC acquired a new stake in Kyverna Therapeutics during the 3rd quarter valued at $33,000. DekaBank Deutsche Girozentrale purchased a new position in Kyverna Therapeutics in the first quarter valued at about $181,000. Teachers Retirement System of The State of Kentucky grew its stake in 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 valued at $161,000 after purchasing an additional 8,796 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Kyverna Therapeutics by 32.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock worth $283,000 after purchasing an additional 9,300 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Kyverna Therapeutics by 55.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock valued at $196,000 after purchasing an additional 9,385 shares in the last quarter. Hedge funds and other institutional investors own 18.08% of the company’s stock.

About Kyverna Therapeutics

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.