Kyverna Therapeutics (NASDAQ:KYTX) Coverage Initiated at HC Wainwright

Investment analysts at HC Wainwright assumed coverage on shares of Kyverna Therapeutics (NASDAQ:KYTX) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating and a $8.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 4.17% from the stock’s previous close.

Kyverna Therapeutics Stock Down 4.6 %

Kyverna Therapeutics stock opened at $7.68 on Wednesday. The stock’s 50 day moving average is $12.16. Kyverna Therapeutics has a twelve month low of $6.75 and a twelve month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.28). During the same period last year, the firm posted ($12.10) earnings per share. As a group, research analysts forecast that Kyverna Therapeutics will post -3.6 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KYTX. Bain Capital Life Sciences Investors LLC acquired a new stake in Kyverna Therapeutics in the first quarter valued at about $78,590,000. Jennison Associates LLC acquired a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at approximately $34,743,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Kyverna Therapeutics in the 1st quarter valued at approximately $23,093,000. Janus Henderson Group PLC purchased a new stake in shares of Kyverna Therapeutics in the first quarter valued at approximately $15,041,000. Finally, Avoro Capital Advisors LLC acquired a new position in Kyverna Therapeutics during the first quarter worth $11,799,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

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.