Kyverna Therapeutics (NASDAQ:KYTX) Trading Down 2.8%

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KYTX. Leerink Partnrs reissued an “outperform” rating on shares of Kyverna Therapeutics in a report on Monday, March 4th. SVB Leerink started coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an “outperform” rating and a $48.00 price target for the company. Wells Fargo & Company started coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an “overweight” rating and a $44.00 price target for the company. Morgan Stanley started coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an “overweight” rating and a $40.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on Kyverna Therapeutics in a report on Monday, March 4th. They set an “overweight” rating and a $39.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $42.75.

Kyverna Therapeutics Price Performance

The stock’s 50-day simple moving average is $26.10.

Insider Transactions at Kyverna Therapeutics

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

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.