Kyverna Therapeutics (NASDAQ:KYTX) Shares Down 3.5%

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) dropped 3.5% during trading on Wednesday . The stock traded as low as $23.74 and last traded at $24.00. Approximately 85,287 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 353,225 shares. The stock had previously closed at $24.86.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KYTX. Leerink Partnrs reaffirmed an “outperform” rating on shares of Kyverna Therapeutics in a research report on Monday, March 4th. Morgan Stanley assumed coverage on shares of Kyverna Therapeutics in a report on Monday, March 4th. They set an “overweight” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Kyverna Therapeutics in a research note on Monday, March 4th. They issued an “overweight” rating and a $39.00 target price for the company. Wells Fargo & Company assumed coverage on Kyverna Therapeutics in a research note on Monday, March 4th. They set an “overweight” rating and a $44.00 price target on the stock. Finally, SVB Leerink initiated coverage on Kyverna Therapeutics in a research 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, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.75.

Kyverna Therapeutics Stock Up 3.0 %

Insider Activity at Kyverna Therapeutics

In other Kyverna Therapeutics news, major shareholder Northpond Ventures Iii Gp, Llc acquired 450,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $9,900,000.00. Following the transaction, the insider now owns 450,000 shares of the company’s stock, valued at $9,900,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics Inc is a patient-centered clinical-stage biopharmaceutical company focused on developing cell therapies for patients suffering from autoimmune diseases. The company’s lead product candidate includes KYV-101. Kyverna Therapeutics Inc is based in EMERYVILLE, Calif.