Kyverna Therapeutics (NASDAQ:KYTX) Stock Price Down 7.3%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shares fell 7.3% on Thursday . The company traded as low as $15.39 and last traded at $15.39. 21,206 shares were traded during trading, a decline of 95% from the average session volume of 400,743 shares. The stock had previously closed at $16.61.

Wall Street Analysts Forecast Growth

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

Kyverna Therapeutics Trading Up 1.5 %

The company’s 50-day simple moving average is $23.61.

Insider Activity at Kyverna Therapeutics

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.

Hedge Funds Weigh In On Kyverna Therapeutics

An institutional investor recently bought a new position in Kyverna Therapeutics stock. Jennison Associates LLC bought a new position in shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,398,659 shares of the company’s stock, valued at approximately $34,743,000. Jennison Associates LLC owned approximately 3.24% of Kyverna Therapeutics as of its most recent filing with the SEC. 18.08% of the stock is owned by hedge funds and other institutional investors.

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.