Kyverna Therapeutics price target lowered to $24 from $44 at Wells Fargo

Wells Fargo analyst Derek Archila lowered the firm’s price target on Kyverna Therapeutics (KYTX) to $24 from $44 and keeps an Overweight rating on the shares. The updated KYV-101 data at ACR should be incremental and additional durability data for the target dose should offer insight into the durability and quality of remission, the analyst tells investors in a research note. This could offer modest upside for shares, the firm adds.