Kyverna Therapeutics (NASDAQ:KYTX) Upgraded to Strong-Buy at RODMAN&RENSHAW

by · The Cerbat Gem

RODMAN&RENSHAW upgraded shares of Kyverna Therapeutics (NASDAQ:KYTX – Free Report) to a strong-buy rating in a research note published on Wednesday morning, Zacks.com reports.

KYTX has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their target price on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. HC Wainwright reissued a neutral rating and set a $7.00 price objective on shares of Kyverna Therapeutics in a research note on Thursday, September 19th. Finally, Rodman & Renshaw assumed coverage on Kyverna Therapeutics in a report on Wednesday. They set a buy rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $28.71.

Read Our Latest Report on Kyverna Therapeutics

Kyverna Therapeutics Stock Performance

Shares of KYTX opened at $5.25 on Wednesday. The stock’s 50-day moving average price is $6.57 and its 200-day moving average price is $11.34. Kyverna Therapeutics has a 52 week low of $4.40 and a 52 week high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX – Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.03. Research analysts predict that Kyverna Therapeutics will post -3.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Bain Capital Life Sciences Investors LLC acquired a new stake in shares of Kyverna Therapeutics in the first quarter valued at $78,590,000. Deerfield Management Company L.P. Series C raised its holdings in Kyverna Therapeutics by 35.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock valued at $14,872,000 after acquiring an additional 520,663 shares in the last quarter. Novo Holdings A S lifted its stake in Kyverna Therapeutics by 150.0% in the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after acquiring an additional 1,050,000 shares during the last quarter. Jennison Associates LLC acquired a new position in Kyverna Therapeutics during the 1st quarter worth approximately $34,743,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at $23,093,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

Kyverna Therapeutics Company Profile

(Get Free Report)

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.

Featured Stories