Kyverna Therapeutics (NASDAQ:KYTX) Stock Price Up 8.7%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) rose 8.7% during trading on Thursday . The company traded as high as $13.85 and last traded at $13.76. Approximately 86,522 shares were traded during trading, a decline of 78% from the average daily volume of 400,374 shares. The stock had previously closed at $12.66.

Analysts Set New Price Targets

KYTX has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on 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 assumed coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They set an “outperform” rating and a $48.00 price target on the stock. Morgan Stanley assumed coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an “overweight” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an “overweight” rating and a $39.00 price objective on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Kyverna Therapeutics in a report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $42.75.

Kyverna Therapeutics Price Performance

The firm’s fifty day moving average price is $22.74.

Insider Buying and Selling at Kyverna Therapeutics

In other Kyverna Therapeutics news, major shareholder Northpond Ventures Iii Gp, Llc purchased 450,000 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $22.00 per share, with a total value of $9,900,000.00. Following the acquisition, the insider now directly owns 450,000 shares in the company, valued at approximately $9,900,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Kyverna Therapeutics

An institutional investor recently bought a new position in Kyverna Therapeutics stock. Jennison Associates LLC purchased a new position in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,398,659 shares of the company’s stock, valued at approximately $34,743,000. Jennison Associates LLC owned about 3.24% of Kyverna Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.08% of the company’s stock.

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.