Kyverna Therapeutics (NASDAQ:KYTX) Sets New 52-Week Low at $17.70

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $17.70 and last traded at $17.75, with a volume of 81775 shares changing hands. The stock had previously closed at $19.19.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KYTX. Leerink Partnrs reiterated an “outperform” rating on shares of Kyverna Therapeutics in a research report on Monday, March 4th. Morgan Stanley began coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “overweight” rating and a $40.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $44.00 price target on the stock. SVB Leerink began coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “overweight” rating and a $39.00 target price for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $42.75.

Kyverna Therapeutics Trading Down 7.7 %

The company’s 50 day moving average is $25.68.

Insider Buying and Selling at Kyverna Therapeutics

In related news, major shareholder Northpond Ventures Iii Gp, Llc bought 450,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $22.00 per share, with a total value of $9,900,000.00. Following the completion of the purchase, the insider now owns 450,000 shares in the company, valued at approximately $9,900,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

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.