Kyverna Therapeutics price target lowered to $12 from $13 at UBS

UBS lowered the firm’s price target on Kyverna Therapeutics (KYTX) to $12 from $13 and keeps a Buy rating on the shares. The company reported Q4 earnings and provided pipeline updates with the primary focus on achieving alignment with the FDA on the ongoing KYSA-8 study serving as a registrational trial for stiff person syndrome, the analyst tells investors in a research note. The firm says there were no surprises in the financials “with everything on track.” It sees this development as “encouraging progress” for KYV-101.