Kyverna Therapeutics Inc. [KYTX] Investment Appeal on the Rise

In a filing, Kyverna Therapeutics Inc. revealed its 10% Owner GILEAD SCIENCES, INC. acquired Company’s shares for reported $20.02 million on Feb 12 ’24. In the deal valued at $22.00 per share,910,000 shares were bought. As a result of this transaction, GILEAD SCIENCES, INC. now holds 4,126,119 shares worth roughly $92.92 million.

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Then, Northpond Ventures III GP, LLC bought 450,000 shares, generating $9,900,000 in total proceeds. Upon buying the shares at $22.00, the Former 10% Owner now owns 450,000 shares.

Before that, Bain Capital Life Sciences Inv bought 450,000 shares. Kyverna Therapeutics Inc. shares valued at $9,900,000 were divested by the 10% Owner at a price of $22.00 per share. As a result of the transaction, Bain Capital Life Sciences Inv now holds 3,163,868 shares, worth roughly $71.25 million.

Wells Fargo initiated its Kyverna Therapeutics Inc. [KYTX] rating to an Overweight in a research note published on March 04, 2024; the price target was $44. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early March with a ‘”an Overweight”‘ rating. Leerink Partners began covering KYTX with “an Outperform” recommendation on March 04, 2024. JP Morgan started covering the stock on March 04, 2024. It rated KYTX as “an Overweight”.

Price Performance Review of KYTX

On Monday, Kyverna Therapeutics Inc. [NASDAQ:KYTX] saw its stock fall -9.34% to $22.52. Over the last five days, the stock has lost -12.44%. Kyverna Therapeutics Inc. shares have fallen nearly -24.93% since the year began.

Levels Of Support And Resistance For KYTX Stock

The 24-hour chart illustrates a support level at 21.09, which if violated will result in even more drops to 19.65. On the upside, there is a resistance level at 24.90. A further resistance level may holdings at 27.27. The Relative Strength Index (RSI) on the 14-day chart is 31.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.59, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.28%. Stochastics %K at 17.24% indicates the stock is a buying.

How much short interest is there in Kyverna Therapeutics Inc.?

A steep rise in short interest was recorded in Kyverna Therapeutics Inc. stocks on Mar 15, 2024, growing by 0.43 million shares to a total of 1.01 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 0.58 million shares. There was a rise of 42.31%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.52% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.16.

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