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

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,950,000 shares, an increase of 13.9% from the December 15th total of 2,590,000 shares. Based on an average trading volume of 335,500 shares, the days-to-cover ratio is currently 8.8 days. Currently, 15.8% of the shares of the stock are sold short.

Kyverna Therapeutics Stock Performance

KYTX stock opened at $3.33 on Friday. Kyverna Therapeutics has a twelve month low of $3.24 and a twelve month high of $35.06. The business has a fifty day moving average of $4.32 and a 200-day moving average of $5.99.

Kyverna Therapeutics (NASDAQ:KYTX) last released its earnings results on Wednesday, November 13th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.01. The business had revenue of $0.01 million for the quarter. On average, research analysts expect that Kyverna Therapeutics will post -3.29 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in KYTX. Novo Holdings A S boosted its position in shares of Kyverna Therapeutics by 150.0% in the 2nd quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after purchasing an additional 1,050,000 shares during the last quarter. Great Point Partners LLC lifted its stake in Kyverna Therapeutics by 232.8% in the second quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock valued at $3,744,000 after buying an additional 349,152 shares during the period. JPMorgan Chase & Co. boosted its holdings in Kyverna Therapeutics by 15.8% during the third quarter. JPMorgan Chase & Co. now owns 2,387,352 shares of the company’s stock worth $11,674,000 after buying an additional 326,095 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in Kyverna Therapeutics by 35.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after buying an additional 520,663 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Kyverna Therapeutics by 32.8% during the 2nd quarter. Millennium Management LLC now owns 923,082 shares of the company’s stock worth $6,923,000 after buying an additional 227,988 shares during the period. Institutional investors own 18.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group assumed 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 started coverage on shares of Kyverna Therapeutics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $16.00 target price for the company. HC Wainwright decreased their price target on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. RODMAN&RENSHAW raised Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their price objective on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $25.71.

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.