JPMorgan initiated coverage of Kyverna Therapeutics with an Overweight rating and $39 price target. The company is developing CD19 CAR-T cell therapy to treat autoimmune diseases, the analyst tells investors in a research note. Built on evidence from academic studies, the firm believes Kyverna’s approach is validated and partially derisked. It says Kyverna is at the forefront of the autologous CAR-T race.
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