Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Short Interest Update

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,680,000 shares, a decline of 8.5% from the August 15th total of 2,930,000 shares. Currently, 15.2% of the company’s shares are short sold. Based on an average daily trading volume, of 605,900 shares, the short-interest ratio is presently 4.4 days.

Kyverna Therapeutics Trading Down 3.3 %

KYTX stock traded down $0.23 during mid-day trading on Tuesday, hitting $6.66. 406,605 shares of the company were exchanged, compared to its average volume of 487,799. The business has a fifty day simple moving average of $8.06 and a 200-day simple moving average of $13.97. Kyverna Therapeutics has a 12-month low of $6.30 and a 12-month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results on Monday, August 12th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.03. On average, analysts predict that Kyverna Therapeutics will post -3.38 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. HC Wainwright lowered their price target on shares of Kyverna Therapeutics from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. 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 report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Kyverna Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.40.

Institutional Investors Weigh In On Kyverna Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new stake in Kyverna Therapeutics during the 1st quarter worth approximately $23,093,000. Jennison Associates LLC acquired a new stake in shares of Kyverna Therapeutics in the first quarter valued at $34,743,000. Janus Henderson Group PLC purchased a new position in Kyverna Therapeutics in the first quarter valued at $15,041,000. TD Asset Management Inc acquired a new position in Kyverna Therapeutics during the 2nd quarter worth $677,000. Finally, Vanguard Group Inc. acquired a new position in Kyverna Therapeutics during the 1st quarter worth $6,563,000. 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.