The stock of Kyverna Therapeutics Inc. (NASDAQ: KYTX) has decreased by -7.71 when compared to last closing price of 19.19. Despite this, the company has experienced a -13.31% fall in its stock price over the last five trading sessions. Seeking Alpha reported 2024-02-10 that U.S. IPO Weekly Recap: Autoimmune Biotech Kyverna Therapeutics Gains 37% In A Six IPO Week
Is It Worth Investing in Kyverna Therapeutics Inc. (NASDAQ: KYTX) Right Now?
There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for KYTX is 30.35M, and at present, short sellers hold a 4.77% of that float. The average trading volume of KYTX on April 25, 2024 was 493.11K shares.
KYTX’s Market Performance
The volatility ratio for the week is 9.08%, and the volatility levels for the past 30 days are at 7.36% for Kyverna Therapeutics Inc. The simple moving average for the past 20 days is -20.68% for KYTX’s stock, with a -31.75% simple moving average for the past 200 days.
Analysts’ Opinion of KYTX
Many brokerage firms have already submitted their reports for KYTX stocks, with Wells Fargo repeating the rating for KYTX by listing it as a “Overweight.” The predicted price for KYTX in the upcoming period, according to Wells Fargo is $44 based on the research report published on March 04, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see KYTX reach a price target of $40. The rating they have provided for KYTX stocks is “Overweight” according to the report published on March 04th, 2024.
Leerink Partners gave a rating of “Outperform” to KYTX, setting the target price at $48 in the report published on March 04th of the current year.
KYTX Trading at -31.31% from the 50-Day Moving Average
After a stumble in the market that brought KYTX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -49.49% of loss for the given period.
Volatility was left at 7.36%, however, over the last 30 days, the volatility rate increased by 9.08%, as shares sank -28.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -40.83% lower at present.
During the last 5 trading sessions, KYTX fell by -13.31%, in comparison to the 20-day moving average, which settled at $21.97. In addition, Kyverna Therapeutics Inc. saw -40.97% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at KYTX starting from GILEAD SCIENCES, INC., who purchase 910,000 shares at the price of $22.00 back on Feb 12 ’24. After this action, GILEAD SCIENCES, INC. now owns 4,126,119 shares of Kyverna Therapeutics Inc., valued at $20,020,000 using the latest closing price.
Northpond Ventures III GP, LLC, the Former 10% Owner of Kyverna Therapeutics Inc., purchase 450,000 shares at $22.00 during a trade that took place back on Feb 12 ’24, which means that Northpond Ventures III GP, LLC is holding 450,000 shares at $9,900,000 based on the most recent closing price.
Stock Fundamentals for KYTX
The liquidity ratio also appears to be rather interesting for investors as it stands at 3.05.
Conclusion
In summary, Kyverna Therapeutics Inc. (KYTX) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
