Kyverna Therapeutics (NASDAQ:KYTX) Shares Down 7.3%

Shares of Kyverna Therapeutics, Inc. (NASDAQ:KYTX) traded down 7.3% during trading on Thursday . The company traded as low as $15.39 and last traded at $15.39. 21,206 shares changed hands during trading, a decline of 95% from the average session volume of 400,743 shares. The stock had previously closed at $16.61.

Wall Street Analysts Forecast Growth

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

Kyverna Therapeutics Price Performance

The company has a 50-day simple moving average of $24.11.

Insider Buying and Selling at Kyverna Therapeutics

In other Kyverna Therapeutics news, major shareholder Northpond Ventures Iii Gp, Llc acquired 450,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $22.00 per share, with a total value of $9,900,000.00. Following the completion of the acquisition, the insider now owns 450,000 shares of the company’s stock, valued at $9,900,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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.