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Kyverna Therapeutics Inc. [KYTX] 10% Owner makes an insider purchase of 910,000 shares worth 20.02 million.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $32.51 million following the completion of this transaction.

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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 $24.93 million.

As published in their initiating research note from H.C. Wainwright on July 03, 2024, Kyverna Therapeutics Inc. [KYTX] has been a Neutral and the price target has been revised to $8. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in early March. As of March 04, 2024, Morgan Stanley has initiated its “an Overweight” rating for KYTX. Earlier on March 04, 2024, Leerink Partners initiated its rating. Their recommendation was “an Outperform” for KYTX stock.

Analyzing KYTX Stock Performance

During the last five days, there has been a surge of approximately 8.39%. Over the course of the year, Kyverna Therapeutics Inc. shares have dropped approximately -73.73%.

Support And Resistance Levels for Kyverna Therapeutics Inc. (KYTX)

According to the 24-hour chart, there is a support level at 7.20, which, if violated, would cause prices to drop to 6.73. In the upper region, resistance lies at 8.17. The next price resistance is at 8.67. RSI (Relative Strength Index) is 34.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.46, which suggests the price will decrease in the coming days. Percent R is at 90.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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