Rodman & Renshaw Initiates Coverage on Kyverna Therapeutics (NASDAQ:KYTX)

Equities researchers at Rodman & Renshaw began coverage on shares of Kyverna Therapeutics (NASDAQ:KYTX) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $16.00 price target on the stock. Rodman & Renshaw’s price target points to a potential upside of 251.65% from the stock’s previous close.

KYTX has been the topic of several other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. HC Wainwright reissued a “neutral” rating and issued a $7.00 target price on shares of Kyverna Therapeutics in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $28.71.

Kyverna Therapeutics Price Performance

Shares of NASDAQ:KYTX opened at $4.55 on Wednesday. The firm has a fifty day moving average of $6.61 and a two-hundred day moving average of $11.46. Kyverna Therapeutics has a 12-month low of $4.40 and a 12-month high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its earnings results on Monday, August 12th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.03. On average, equities analysts predict that Kyverna Therapeutics will post -3.38 EPS for the current year.

Hedge Funds Weigh In On Kyverna Therapeutics

A number of large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale acquired a new position in shares of Kyverna Therapeutics during the first quarter worth approximately $181,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Kyverna Therapeutics by 69.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,410 shares of the company’s stock worth $161,000 after purchasing an additional 8,796 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Kyverna Therapeutics by 32.6% during the second quarter. The Manufacturers Life Insurance Company now owns 37,794 shares of the company’s stock worth $283,000 after purchasing an additional 9,300 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Kyverna Therapeutics by 55.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 26,195 shares of the company’s stock valued at $196,000 after buying an additional 9,385 shares during the period. Finally, Federated Hermes Inc. bought a new position in Kyverna Therapeutics in the second quarter valued at approximately $120,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

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.