Kyverna Therapeutics (NASDAQ:KYTX) Trading Down 7.3% – Time to Sell?

Kyverna Therapeutics, Inc. (NASDAQ:KYTX)’s stock price was down 7.3% during trading on Thursday . The company traded as low as $8.33 and last traded at $8.2220. 105,578 shares changed hands during trading, a decline of 89% from the average daily volume of 925,923 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Wednesday, June 24th. Wall Street Zen lowered Kyverna Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. JPMorgan Chase & Co. cut their price objective on Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Four equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Kyverna Therapeutics Trading Down 7.8%

The firm has a market cap of $505.85 million, a price-to-earnings ratio of -2.78 and a beta of 1.93. The company’s 50-day moving average price is $8.14 and its 200-day moving average price is $8.43. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.15.

Kyverna Therapeutics (NASDAQ:KYTX) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.05. Equities analysts expect that Kyverna Therapeutics, Inc. will post -2.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Kyverna Therapeutics during the 2nd quarter valued at about $27,931,000. AIGH Capital Management LLC acquired a new position in shares of Kyverna Therapeutics during the 2nd quarter worth approximately $24,911,000. Price T Rowe Associates Inc. MD grew its position in shares of Kyverna Therapeutics by 16.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,762,617 shares of the company’s stock valued at $16,569,000 after purchasing an additional 250,418 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Kyverna Therapeutics in the fourth quarter valued at approximately $15,667,000. Finally, Vanguard Group Inc. increased its holdings in shares of Kyverna Therapeutics by 0.8% in the third quarter. Vanguard Group Inc. now owns 1,322,625 shares of the company’s stock valued at $7,936,000 after purchasing an additional 9,858 shares during the last quarter. 18.08% of the stock is 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.