Kyverna Therapeutics (NASDAQ:KYTX) Hits New 12-Month Low at $17.70

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) shares hit a new 52-week low on Wednesday . The stock traded as low as $17.70 and last traded at $17.75, with a volume of 81775 shares. The stock had previously closed at $19.19.

Wall Street Analysts Forecast Growth

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

Kyverna Therapeutics Trading Down 2.9 %

The firm’s fifty day simple moving average is $24.88.

Insider Activity

In related news, major shareholder Northpond Ventures Iii Gp, Llc bought 450,000 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average price 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 approximately $9,900,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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.