Wells Fargo & Company Cuts Kyverna Therapeutics (NASDAQ:KYTX) Price Target to $24.00

Kyverna Therapeutics (NASDAQ:KYTX) had its price target reduced by Wells Fargo & Company from $44.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. UBS Group started coverage on shares of Kyverna Therapeutics in a research note on Thursday, October 10th. They set a “buy” rating and a $13.00 target price for the company. Rodman & Renshaw assumed coverage on shares of Kyverna Therapeutics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 target price for the company. HC Wainwright restated a “neutral” rating and issued a $7.00 target price on shares of Kyverna Therapeutics in a report on Thursday, September 19th. Finally, RODMAN&RENSHAW upgraded Kyverna Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Kyverna Therapeutics currently has an average rating of “Buy” and an average target price of $25.86.

Kyverna Therapeutics Trading Down 9.4 %

Shares of NASDAQ KYTX traded down $0.45 during mid-day trading on Friday, hitting $4.35. The company had a trading volume of 280,159 shares, compared to its average volume of 457,970. The firm’s 50 day simple moving average is $5.46 and its two-hundred day simple moving average is $8.52. Kyverna Therapeutics has a 12 month low of $4.30 and a 12 month high of $35.06.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Kyverna Therapeutics by 19.0% during the third quarter. Geode Capital Management LLC now owns 443,312 shares of the company’s stock valued at $2,168,000 after purchasing an additional 70,714 shares during the last quarter. Barclays PLC lifted its holdings in shares of Kyverna Therapeutics by 21.5% during the 3rd quarter. Barclays PLC now owns 70,167 shares of the company’s stock valued at $343,000 after buying an additional 12,418 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Kyverna Therapeutics by 78.3% during the 3rd quarter. Jane Street Group LLC now owns 39,193 shares of the company’s stock valued at $192,000 after buying an additional 17,215 shares during the last quarter. Sphera Funds Management LTD. grew its stake in shares of Kyverna Therapeutics by 5.3% in the 3rd quarter. Sphera Funds Management LTD. now owns 248,651 shares of the company’s stock valued at $1,216,000 after buying an additional 12,622 shares in the last quarter. Finally, State Street Corp increased its holdings in Kyverna Therapeutics by 3.2% in the third quarter. State Street Corp now owns 326,192 shares of the company’s stock worth $1,595,000 after buying an additional 10,244 shares during the last quarter. Institutional investors and hedge funds 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.