Kyverna Therapeutics (NASDAQ:KYTX) Stock Price Down 8.9%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s stock price was down 8.9% on Wednesday . The stock traded as low as $12.42 and last traded at $12.43. Approximately 291,849 shares traded hands during trading, a decline of 28% from the average daily volume of 403,098 shares. The stock had previously closed at $13.65.

Wall Street Analysts Forecast Growth

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

Kyverna Therapeutics Stock Performance

The company’s 50 day moving average is $23.05.

Insider Buying and Selling

In related news, major shareholder Northpond Ventures Iii Gp, Llc acquired 450,000 shares of Kyverna Therapeutics stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $9,900,000.00. Following the acquisition, the insider now owns 450,000 shares in the company, valued at $9,900,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Kyverna Therapeutics stock. Jennison Associates LLC bought a new stake in Kyverna Therapeutics, Inc. (NASDAQ:KYTX) in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period. 18.08% of the stock is owned by institutional investors.

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.