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Investing in Kyverna Therapeutics Inc. (KYTX): What You Must Know

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 $63.95 million.

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 $49.04 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 Tuesday, Kyverna Therapeutics Inc. [NASDAQ:KYTX] saw its stock jump 5.95% to $15.50. Over the last five days, the stock has gained 13.55%. Kyverna Therapeutics Inc. shares have fallen nearly -48.33% since the year began.

Levels Of Support And Resistance For KYTX Stock

The 24-hour chart illustrates a support level at 14.92, which if violated will result in even more drops to 14.35. On the upside, there is a resistance level at 15.90. A further resistance level may holdings at 16.31. The Relative Strength Index (RSI) on the 14-day chart is 41.35, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.81%. Stochastics %K at 39.60% indicates the stock is a holding.

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