Kyverna Therapeutics initiated with an Outperform at William Blair

William Blair analyst Sami Corwin initiated coverage of Kyverna Therapeutics (KYTX) with an Outperform rating and $27 fair value estimate. Kyverna is a clinical-stage biotechnology company developing immune cell therapies that can induce long-term remissions for patients with severe autoimmune diseases without the need for chronic immunosuppression, the analyst tells investors in a research note. The firm believes the company is on track have the first FDA approved CAR-T for the treatment of an autoimmune disease.