Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Kyverna Therapeutics Inc. shares valued at $20,020,000 were purchased by GILEAD SCIENCES, INC. on Feb 12 ’24. At $22.00 per share, GILEAD SCIENCES, INC. acquired 910,000 shares. The insider’s holdings grew to 4,126,119 shares worth approximately $92.01 million following the completion of this transaction.
Also, Northpond Ventures III GP, LLC purchased 450,000 shares, netting a total of over 9,900,000 in proceeds. Following the buying of shares at $22.00 each, the insider now holds 450,000 shares.
Before that, Bain Capital Life Sciences Inv had added 450,000 shares to its account. In a trade valued at $9,900,000, the 10% Owner bought Kyverna Therapeutics Inc. shares for $22.00 each. Upon closing the transaction, the insider’s holdings increased to 450,000 shares, worth approximately $70.55 million.
As published in their initiating research note from Wells Fargo on March 04, 2024, Kyverna Therapeutics Inc. [KYTX] has been an Overweight and the price target has been revised to $44. Analysts at Morgan Stanley started covering the stock with ‘”an Overweight”‘ outlook in a report released in early March. As of March 04, 2024, Leerink Partners has initiated its “an Outperform” rating for KYTX. Earlier on March 04, 2024, JP Morgan initiated its rating. Their recommendation was “an Overweight” for KYTX stock.
Analyzing KYTX Stock Performance
During the last five days, there has been a drop of approximately -7.51%. Over the course of the year, Kyverna Therapeutics Inc. shares have dropped approximately -25.67%.
Support And Resistance Levels for Kyverna Therapeutics Inc. (KYTX)
According to the 24-hour chart, there is a support level at 21.67, which, if violated, would cause prices to drop to 21.03. In the upper region, resistance lies at 22.76. The next price resistance is at 23.21. RSI (Relative Strength Index) is 33.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.51, which suggests the price will decrease in the coming days. Percent R is at 90.59%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Kyverna Therapeutics Inc. subject to short interest?
Stocks of Kyverna Therapeutics Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.43 million shares to 1.01 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 0.58 million shares. A jump of 42.31% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.16 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.16.
