Kyverna Therapeutics (NASDAQ:KYTX) Stock Price Down 11.1% – What’s Next?

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s share price was down 11.1% on Friday . The stock traded as low as $8.90 and last traded at $8.7180. Approximately 220,254 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 922,871 shares. The stock had previously closed at $9.81.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reduced their price objective on Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kyverna Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Kyverna Therapeutics Stock Performance

The company has a market capitalization of $518.84 million, a P/E ratio of -2.58 and a beta of 1.87. The stock’s fifty day moving average price is $8.72 and its 200-day moving average price is $8.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 8.15 and a current ratio of 8.15.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.09. As a group, research analysts anticipate that Kyverna Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of large investors have recently added to or reduced their stakes in KYTX. Bank of America Corp DE lifted its holdings in Kyverna Therapeutics by 41.6% during the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock valued at $81,000 after purchasing an additional 6,400 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Kyverna Therapeutics by 31.1% in the first quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company’s stock valued at $132,000 after purchasing an additional 16,267 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Kyverna Therapeutics in the first quarter valued at about $137,000. Rhumbline Advisers raised its position in shares of Kyverna Therapeutics by 22.0% in the first quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock valued at $61,000 after purchasing an additional 5,694 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Kyverna Therapeutics during the 2nd quarter worth about $107,000. Institutional investors own 18.08% of the company’s stock.

About Kyverna Therapeutics

Kyverna Therapeutics is a clinical‐stage biotechnology company dedicated to developing engineered regulatory T‐cell (Treg) therapies for the treatment of autoimmune and inflammatory diseases. Leveraging a proprietary platform for the isolation, expansion and modification of Treg cells, the company aims to restore immune homeostasis in patients by delivering antigen‐specific cell therapies that selectively target diseased tissues while minimizing systemic immunosuppression.

The company’s lead programs include an allogeneic Treg candidate in clinical development for ulcerative colitis, with additional preclinical assets focused on rheumatoid arthritis and other chronic inflammatory conditions.