Kyverna Therapeutics (NASDAQ:KYTX) Hits New 52-Week Low at $21.13

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $21.13 and last traded at $21.30, with a volume of 24716 shares trading hands. The stock had previously closed at $22.43.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KYTX. Wells Fargo & Company began coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $39.00 price objective on the stock. SVB Leerink began coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “outperform” rating and a $48.00 price objective on the stock. Morgan Stanley began coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $40.00 price objective on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Kyverna Therapeutics in a research note on Monday, March 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kyverna Therapeutics presently has a consensus rating of “Buy” and an average price target of $42.75.

Kyverna Therapeutics Price Performance

The company’s fifty day simple moving average is $26.61.

Insider Activity

In related news, major shareholder Northpond Ventures Iii Gp, Llc purchased 450,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $9,900,000.00. Following the acquisition, the insider now owns 450,000 shares of the company’s stock, valued at approximately $9,900,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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.