Leerink initiated coverage of Kyverna Therapeutics with an Outperform rating and $48 price target. The firm believes compelling early results from the company’s lead asset KYV-101 and other CD19 CAR T therapies have shown an ability to deeply deplete B cells and trigger “immune reset” – offering the potential for functional cures and positioning the CAR T approach at the clinical forefront of treating autoimmune diseases. Leerink sees Kyverna as a clear leader in this field, with a differentiated CAR construct, promising early clinical data across multiple diseases/sites/investigators, and an impressive clinical scale that positions the company as a significant player in this exciting, emerging modality. The firm further thinks this leadership position will be strategically attractive to large pharma/biotech companies looking for an entry point into this next wave of autoimmune therapies.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on KYTX:
- Kyverna Therapeutics Launches IPO and Restructures Governance
- Opening Day: Gilead-backed Kyverna overshoots raised IPO expectations
- Kyverna Therapeutics opens at $34.25, IPO priced at $22
- Kyverna Therapeutics indicated to open at $29, IPO priced at $22
- Kyverna Therapeutics indicated to open at $31, IPO priced at $22