Kyverna Therapeutics (NASDAQ:KYTX) Price Target Cut to $29.00 by Analysts at JPMorgan Chase & Co.

Kyverna Therapeutics (NASDAQ:KYTX) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $30.00 to $29.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 172.68% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kyverna Therapeutics in a research report on Friday, March 27th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Kyverna Therapeutics in a research report on Thursday, April 23rd. Finally, Wall Street Zen cut shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Kyverna Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $28.75.

Kyverna Therapeutics Price Performance

Shares of Kyverna Therapeutics stock traded up $0.41 on Wednesday, reaching $10.64. 768,238 shares of the stock were exchanged, compared to its average volume of 859,373. The firm’s 50 day moving average is $8.93 and its 200-day moving average is $8.32. The firm has a market cap of $643.74 million, a PE ratio of -2.86 and a beta of 2.05. Kyverna Therapeutics has a one year low of $2.06 and a one year high of $13.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 7.75 and a current ratio of 7.75.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.09. As a group, analysts anticipate that Kyverna Therapeutics will post -3.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyverna Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in KYTX. Bank of America Corp DE increased its position in Kyverna Therapeutics by 41.6% in the 4th quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock valued at $81,000 after acquiring an additional 6,400 shares during the period. Cubist Systematic Strategies LLC increased its position in Kyverna Therapeutics by 31.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company’s stock valued at $132,000 after acquiring an additional 16,267 shares during the period. AQR Capital Management LLC acquired a new position in Kyverna Therapeutics in the 1st quarter valued at approximately $137,000. Rhumbline Advisers increased its position in Kyverna Therapeutics by 22.0% in the 1st quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock valued at $61,000 after acquiring an additional 5,694 shares during the period. Finally, XTX Topco Ltd acquired a new position in Kyverna Therapeutics in the 2nd quarter valued at approximately $107,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

About Kyverna Therapeutics

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.