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duoogle H.C. Wainwright initiated coverage of Kyverna Therapeutics ( NASDAQ: KYTX ) with a neutral rating, stating that it was awaiting more data on the company's cell therapy KYV-101 before becoming more positive on the stock.

The investment bank noted that the company recently shared “lackluster” data on KYV-101 in the treatment of lupus nephritis, or LN. It said it remained “skeptical of the ability for a low-dose, one-time DNA-modified CAR-T therapy to produce deep and durable responses in the autoimmune setting.” H.



C. Wainwright added it was “particularly cautious given the wake of competitor modalities, including mRNA-modified CAR-T therapies, which may prove advantageous.” The bank set its price target for the stock at $8.

More on Kyverna Therapeutics, Inc. Kyverna gains as FDA clears trial for lead therapy Historical earnings data for Kyverna Therapeutics, Inc. Financial information for Kyverna Therapeutics, Inc.

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