Kyverna Therapeutics (NASDAQ:KYTX) Shares Up 6.4%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) was up 6.4% during mid-day trading on Monday . The company traded as high as $19.66 and last traded at $19.36. Approximately 145,756 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 386,972 shares. The stock had previously closed at $18.20.

Wall Street Analyst Weigh In

KYTX has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “overweight” rating and a $40.00 target price for the company. Wells Fargo & Company began coverage on Kyverna Therapeutics in a research report on Monday, March 4th. They issued an “overweight” rating and a $44.00 price objective for the company. SVB Leerink assumed coverage on shares of Kyverna Therapeutics in a research report on Monday, March 4th. They set an “outperform” rating and a $48.00 price target for the company. JPMorgan Chase & Co. began coverage on Kyverna Therapeutics in a report on Monday, March 4th. They issued an “overweight” rating and a $39.00 price objective for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Kyverna Therapeutics in a report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kyverna Therapeutics presently has an average rating of “Buy” and an average price target of $42.75.

Kyverna Therapeutics Stock Down 1.6 %

The firm’s 50-day moving average price is $25.68.

Insider Activity

In other news, major shareholder Northpond Ventures Iii Gp, Llc purchased 450,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $22.00 per share, for a total transaction of $9,900,000.00. Following the completion of the purchase, the insider now directly owns 450,000 shares in the company, valued at approximately $9,900,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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.