Kyverna Therapeutics (NASDAQ:KYTX) Stock Falls 2.2% – Time to Sell?

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shares dropped 2.2% during mid-day trading on Monday. The stock traded as low as $5.18 and last traded at $5.27. Approximately 810,101 shares were traded during trading, a decline of 6% from the average session volume of 858,089 shares. The stock had previously closed at $5.39.

Analysts Set New Price Targets

KYTX has been the subject of a number of research reports. William Blair raised shares of Kyverna Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd. Benchmark reissued a “buy” rating on shares of Kyverna Therapeutics in a research note on Friday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Monday, September 21st. HC Wainwright restated a “buy” rating on shares of Kyverna Therapeutics in a research report on Thursday, October 22nd. Finally, Needham & Company LLC set a $25.00 price objective on shares of Kyverna Therapeutics in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.00.

Kyverna Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 9.06 and a quick ratio of 9.06. The stock’s fifty day moving average is $7.02 and its 200-day moving average is $8.11. The stock has a market cap of $364.24 million, a PE ratio of -2.00 and a beta of 2.06.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.05. As a group, equities analysts anticipate that Kyverna Therapeutics, Inc. will post -2.70 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new stake in Kyverna Therapeutics in the second quarter valued at $2,365,000. AIGH Capital Management LLC lifted its stake in shares of Kyverna Therapeutics by 33.3% in the 1st quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock valued at $17,260,000 after purchasing an additional 500,000 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Kyverna Therapeutics in the 2nd quarter valued at $2,188,000. BlackRock Inc. purchased a new position in shares of Kyverna Therapeutics during the 2nd quarter worth $27,931,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Kyverna Therapeutics by 106.6% during the 1st quarter. Renaissance Technologies LLC now owns 367,492 shares of the company’s stock worth $3,171,000 after purchasing an additional 189,593 shares during the period. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics is a clinical-stage biotechnology company developing engineered T-cell therapies for patients with severe autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing B cells, which play a central role in many autoimmune disorders, with the goal of achieving deep and durable disease remission.

Kyverna’s lead investigational product, KYV-101, is an autologous CD19-directed chimeric antigen receptor (CAR) T-cell therapy. The treatment is being evaluated in clinical studies for conditions including lupus nephritis, systemic sclerosis, multiple sclerosis and other serious autoimmune diseases.