Kyverna Therapeutics, Inc. (NASDAQ:KYTX) Sees Large Increase in Short Interest

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 2,950,000 shares, a growth of 13.9% from the December 15th total of 2,590,000 shares. Based on an average daily trading volume, of 335,500 shares, the days-to-cover ratio is currently 8.8 days. Currently, 15.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Kyverna Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Novo Holdings A S grew its holdings in Kyverna Therapeutics by 150.0% during the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock valued at $13,125,000 after purchasing an additional 1,050,000 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in shares of Kyverna Therapeutics by 35.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after buying an additional 520,663 shares during the period. MBB Public Markets I LLC acquired a new position in Kyverna Therapeutics in the 2nd quarter valued at $3,076,000. Kera Capital Partners Inc. bought a new position in Kyverna Therapeutics in the 4th quarter worth $1,407,000. Finally, Great Point Partners LLC lifted its position in Kyverna Therapeutics by 232.8% during the 2nd quarter. Great Point Partners LLC now owns 499,152 shares of the company’s stock worth $3,744,000 after acquiring an additional 349,152 shares during the last quarter. 18.08% of the stock is currently owned by institutional investors and hedge funds.

Kyverna Therapeutics Stock Performance

NASDAQ:KYTX opened at $3.33 on Monday. Kyverna Therapeutics has a 52 week low of $3.24 and a 52 week high of $35.06. The stock’s 50 day moving average price is $4.32 and its 200 day moving average price is $5.98.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results on Wednesday, November 13th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.01. The business had revenue of $0.01 million for the quarter. On average, equities research analysts predict that Kyverna Therapeutics will post -3.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KYTX shares. Rodman & Renshaw initiated coverage on shares of Kyverna Therapeutics in a research report on Wednesday, October 9th. They set a “buy” rating and a $16.00 price objective for the company. UBS Group assumed coverage on shares of Kyverna Therapeutics in a report on Thursday, October 10th. They set a “buy” rating and a $13.00 target price for the company. HC Wainwright dropped their price target on Kyverna Therapeutics from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Wells Fargo & Company reduced their price objective on Kyverna Therapeutics from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Finally, RODMAN&RENSHAW raised shares of Kyverna Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kyverna Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $25.71.

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.