Traders Buy High Volume of Kyverna Therapeutics Call Options (NASDAQ:KYTX)

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) saw some unusual options trading on Monday. Investors purchased 2,529 call options on the company. This represents an increase of 900% compared to the average daily volume of 253 call options.

Kyverna Therapeutics Stock Performance

Shares of KYTX opened at $10.82 on Tuesday. The stock has a market capitalization of $473.92 million, a PE ratio of -2.90 and a beta of 3.65. The company’s fifty day moving average is $7.29 and its 200 day moving average is $5.06. Kyverna Therapeutics has a fifty-two week low of $1.78 and a fifty-two week high of $13.67.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.85) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.12. As a group, research analysts forecast that Kyverna Therapeutics will post -3.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KYTX. Bank of America Corp DE raised its position in Kyverna Therapeutics by 41.6% during the fourth 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 period. Nuveen LLC bought a new position in shares of Kyverna Therapeutics during the 1st quarter valued at approximately $92,000. Cubist Systematic Strategies LLC raised its holdings in Kyverna Therapeutics by 31.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company’s stock valued at $132,000 after buying an additional 16,267 shares during the period. AQR Capital Management LLC purchased a new stake in Kyverna Therapeutics during the 1st quarter valued at $137,000. Finally, Insight Holdings Group LLC lifted its position in Kyverna Therapeutics by 8.3% in the first quarter. Insight Holdings Group LLC now owns 989,054 shares of the company’s stock worth $1,909,000 after buying an additional 76,139 shares during the last quarter. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wall Street Zen raised shares of Kyverna Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley set a $33.00 target price on shares of Kyverna Therapeutics in a research note on Monday. William Blair initiated coverage on Kyverna Therapeutics in a research note on Wednesday, August 20th. They issued an “outperform” rating for the company. Wells Fargo & Company raised their price target on Kyverna Therapeutics from $27.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Monday, December 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Kyverna Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.