Kyverna Therapeutics (NASDAQ:KYTX) Given New $24.00 Price Target at Wells Fargo & Company

Kyverna Therapeutics (NASDAQ:KYTX) had its price objective decreased by equities researchers at Wells Fargo & Company from $44.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 442.99% from the stock’s current price.

KYTX has been the topic of several other reports. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a report on Wednesday, October 9th. They issued a “buy” rating and a $16.00 price objective on the stock. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. HC Wainwright reiterated a “neutral” rating and issued a $7.00 price objective on shares of Kyverna Therapeutics in a report on Thursday, September 19th. JPMorgan Chase & Co. reduced their target price on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, UBS Group began coverage on Kyverna Therapeutics in a research note on Thursday, October 10th. They issued a “buy” rating and a $13.00 price target for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.86.

Kyverna Therapeutics Stock Down 7.9 %

Shares of NASDAQ KYTX traded down $0.38 during midday trading on Friday, hitting $4.42. The stock had a trading volume of 176,248 shares, compared to its average volume of 457,438. Kyverna Therapeutics has a fifty-two week low of $4.38 and a fifty-two week high of $35.06. The company’s 50-day simple moving average is $5.58 and its 200 day simple moving average is $8.62.

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

Hedge Funds Weigh In On Kyverna Therapeutics

A number of large investors have recently added to or reduced their stakes in KYTX. FMR LLC acquired a new position in shares of Kyverna Therapeutics during the third quarter worth about $33,000. Creative Planning acquired a new position in Kyverna Therapeutics during the 3rd quarter worth approximately $54,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Kyverna Therapeutics during the 3rd quarter worth approximately $97,000. Federated Hermes Inc. acquired a new stake in shares of Kyverna Therapeutics in the second quarter valued at approximately $120,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Kyverna Therapeutics by 2,166.4% in the third quarter. BNP Paribas Financial Markets now owns 27,197 shares of the company’s stock worth $133,000 after purchasing an additional 25,997 shares in the last quarter. 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.