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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,590,000 shares, an increase of 23.3% from the November 30th total of 2,100,000 shares. Currently, 13.8% of the company’s stock are short sold. Based on an average daily volume of 361,200 shares, the short-interest ratio is presently 7.2 days.

Institutional Trading of Kyverna Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Kyverna Therapeutics by 15.8% during the third quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock valued at $11,674,000 after acquiring an additional 326,095 shares during the last quarter. Franklin Resources Inc. grew its holdings in Kyverna Therapeutics by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 936,961 shares of the company’s stock valued at $4,582,000 after purchasing an additional 113,922 shares during the last quarter. Barclays PLC raised its position in Kyverna Therapeutics by 21.5% in the 3rd quarter. Barclays PLC now owns 70,167 shares of the company’s stock worth $343,000 after purchasing an additional 12,418 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 70,714 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Kyverna Therapeutics by 78.3% in the third quarter. Jane Street Group LLC now owns 39,193 shares of the company’s stock worth $192,000 after purchasing an additional 17,215 shares during the period. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. HC Wainwright reduced their price objective on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. RODMAN&RENSHAW upgraded shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. UBS Group began coverage on shares of Kyverna Therapeutics in a research report on Thursday, October 10th. They set a “buy” rating and a $13.00 target price for the company. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.71.

Kyverna Therapeutics Stock Performance

Shares of Kyverna Therapeutics stock traded up $0.01 during trading hours on Friday, reaching $3.99. The company’s stock had a trading volume of 140,030 shares, compared to its average volume of 449,910. The firm has a 50 day moving average price of $4.77 and a 200-day moving average price of $6.52. Kyverna Therapeutics has a one year low of $3.63 and a one year high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.01. The company had revenue of $0.01 million for the quarter. On average, equities research analysts forecast that Kyverna Therapeutics will post -3.29 EPS for the current fiscal year.

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.