Kyverna Therapeutics (NASDAQ:KYTX) Shares Down 2.8%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shares fell 2.8% on Friday . The stock traded as low as $18.48 and last traded at $18.48. 7,254 shares traded hands during trading, a decline of 98% from the average session volume of 383,816 shares. The stock had previously closed at $19.01.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KYTX. JPMorgan Chase & Co. began coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $39.00 price target for the company. Wells Fargo & Company began coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “overweight” rating and a $44.00 price target for the company. SVB Leerink began coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “outperform” rating and a $48.00 price target for the company. Morgan Stanley began coverage on shares of Kyverna Therapeutics in a report on Monday, March 4th. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Kyverna Therapeutics in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kyverna Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $42.75.

Kyverna Therapeutics Stock Performance

The company’s 50-day moving average is $26.33.

Insider Buying and Selling at Kyverna Therapeutics

In other news, major shareholder Northpond Ventures Iii Gp, Llc bought 450,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were bought at an average price of $22.00 per share, with a total value of $9,900,000.00. Following the completion of the transaction, the insider now directly owns 450,000 shares in the company, valued at $9,900,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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.