Wall Street Zen Downgrades Kyverna Therapeutics (NASDAQ:KYTX) to Sell

Kyverna Therapeutics (NASDAQ:KYTX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued reports about the company. Wells Fargo & Company boosted their target price on Kyverna Therapeutics from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Morgan Stanley set a $33.00 price target on Kyverna Therapeutics in a research note on Monday, December 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research note on Monday, December 29th. Finally, HC Wainwright upped their price objective on shares of Kyverna Therapeutics from $10.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.67.

Kyverna Therapeutics Stock Down 1.4%

KYTX opened at $7.26 on Friday. Kyverna Therapeutics has a twelve month low of $1.78 and a twelve month high of $13.67. The company’s 50-day moving average price is $8.53 and its two-hundred day moving average price is $6.61. The stock has a market cap of $317.99 million, a price-to-earnings ratio of -1.95 and a beta of 3.45.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.85) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.12. As a group, sell-side analysts anticipate that Kyverna Therapeutics will post -3.29 earnings per share for the current year.

Insider Activity

In related news, CTO Karen Marie Walker sold 23,998 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $12.20, for a total transaction of $292,775.60. Following the completion of the transaction, the chief technology officer owned 22,636 shares of the company’s stock, valued at approximately $276,159.20. The trade was a 51.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Beth C. Seidenberg bought 133,333 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were purchased at an average cost of $7.50 per share, for a total transaction of $999,997.50. Following the acquisition, the director directly owned 869,317 shares in the company, valued at $6,519,877.50. This trade represents a 18.12% increase in their position. The SEC filing for this purchase provides additional information. 22.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KYTX. Public Employees Retirement System of Ohio bought a new stake in Kyverna Therapeutics during the third quarter valued at $28,000. Phoenix Wealth Advisors purchased a new stake in shares of Kyverna Therapeutics in the 2nd quarter valued at about $32,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Kyverna Therapeutics in the 2nd quarter valued at about $37,000. Qube Research & Technologies Ltd bought a new stake in shares of Kyverna Therapeutics during the 2nd quarter valued at about $43,000. Finally, Ethic Inc. bought a new stake in shares of Kyverna Therapeutics during the 2nd quarter valued at about $56,000. Institutional investors own 18.08% of the company’s stock.

Kyverna Therapeutics Company Profile

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.