HC Wainwright Trims Kyverna Therapeutics (NASDAQ:KYTX) Target Price to $7.00

Kyverna Therapeutics (NASDAQ:KYTX) had its price target lowered by HC Wainwright from $8.00 to $7.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, JPMorgan Chase & Co. decreased their price target on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an overweight rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $34.40.

Kyverna Therapeutics Price Performance

NASDAQ:KYTX opened at $6.74 on Thursday. Kyverna Therapeutics has a 52 week low of $6.30 and a 52 week high of $35.06. The company’s 50 day moving average price is $8.63.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results on Monday, August 12th. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.03. As a group, equities analysts anticipate that Kyverna Therapeutics will post -3.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD purchased a new position in shares of Kyverna Therapeutics during the first quarter worth $23,093,000. Jennison Associates LLC purchased a new position in shares of Kyverna Therapeutics during the first quarter worth $34,743,000. Janus Henderson Group PLC purchased a new position in shares of Kyverna Therapeutics during the first quarter worth $15,041,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Kyverna Therapeutics during the first quarter worth $181,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Kyverna Therapeutics during the first quarter worth $313,000. 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.