Kyverna Therapeutics stock rating reiterated at Buy by H.C. Wainwright

Investing.com - H.C. Wainwright has reiterated its Buy rating and $10.00 price target on Kyverna Therapeutics Inc (NASDAQ:KYTX), citing promising clinical results and significant upside potential. The stock, currently trading at $6.44, has shown strong momentum with a 180% gain over the past six months. According to InvestingPro data, analyst targets range from $10 to $25, suggesting significant potential upside.

The research firm highlighted investigator-initiated trial results in progressive multiple sclerosis showing KYV-101 penetrating the central nervous system with early functional gains, representing upside not factored into its current price target.

H.C. Wainwright noted that at approximately $70 million enterprise value, Kyverna’s current valuation barely reflects either myasthenia gravis or stiff-person syndrome potential, making the valuation conservative relative to upcoming catalysts.

The firm emphasized that investors now receive free exposure to multiple sclerosis and rheumatoid arthritis opportunities, with risk mitigated by more than 100 patients treated without high-grade cytokine release syndrome or immune effector cell-associated neurotoxicity syndrome.

Additional risk mitigation factors include $212 million cash runway extending into 2027 and three myasthenia gravis compassionate-use cases showing durable remission at 24, 22, and 15 months, providing a bridge to the fourth quarter 2025 Phase 2 interim readout. The company maintains a healthy current ratio of 5.39 and holds more cash than debt on its balance sheet, though InvestingPro analysis indicates rapid cash burn rates that investors should monitor.

In other recent news, Kyverna Therapeutics presented promising data from Phase 1 trials of its CD19 CAR T-cell therapy, KYV-101, for progressive multiple sclerosis at a major congress. The results showed stable to improved disability status scores and significant improvements in fatigue among patients. Kyverna is also preparing to present interim data from its Phase 2 study of KYV-101 in myasthenia gravis at an upcoming medical meeting, marking a key milestone for its therapy program. In an analyst update, H.C. Wainwright raised its price target for Kyverna to $10, maintaining a Buy rating, following positive outcomes for myasthenia gravis patients in compassionate-use cases. Meanwhile, William Blair initiated coverage on Kyverna with an Outperform rating and a $27 fair-value estimate. The company also announced the appointment of Marc Grasso as its new Chief Financial Officer, bringing over 25 years of experience to the role. These developments highlight Kyverna’s ongoing efforts in advancing its therapeutic programs and strengthening its leadership team.

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