Kyverna Therapeutics (NASDAQ:KYTX) Issues Quarterly Earnings Results

Kyverna Therapeutics (NASDAQ:KYTX) issued its quarterly earnings results on Wednesday. The company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.12, FiscalAI reports.

Kyverna Therapeutics Stock Performance

KYTX stock traded down $0.09 during midday trading on Thursday, reaching $7.24. 74,287 shares of the company’s stock traded hands, compared to its average volume of 436,316. The firm has a market capitalization of $313.26 million, a PE ratio of -2.00 and a beta of 3.79. The company has a 50-day moving average price of $6.09 and a two-hundred day moving average price of $4.16. Kyverna Therapeutics has a 52 week low of $1.78 and a 52 week high of $8.45.

Analysts Set New Price Targets

KYTX has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Tuesday. William Blair initiated coverage on Kyverna Therapeutics in a report on Wednesday, August 20th. They set an “outperform” rating on the stock. Wells Fargo & Company increased their price target on shares of Kyverna Therapeutics from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, HC Wainwright lifted their price objective on shares of Kyverna Therapeutics from $10.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Kyverna Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $23.67.

Hedge Funds Weigh In On Kyverna Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of KYTX. Rhumbline Advisers increased its stake in shares of Kyverna Therapeutics by 22.0% in the 1st quarter. Rhumbline Advisers now owns 31,614 shares of the company’s stock worth $61,000 after acquiring an additional 5,694 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Kyverna Therapeutics by 41.6% in the fourth quarter. Bank of America Corp DE now owns 21,788 shares of the company’s stock worth $81,000 after buying an additional 6,400 shares during the period. Federated Hermes Inc. increased its stake in Kyverna Therapeutics by 22.2% in the 2nd quarter. Federated Hermes Inc. now owns 44,000 shares of the company’s stock worth $135,000 after buying an additional 8,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Kyverna Therapeutics by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,322,625 shares of the company’s stock worth $7,936,000 after purchasing an additional 9,858 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in Kyverna Therapeutics in the 2nd quarter valued at $43,000. 18.08% of the stock is owned by institutional investors.

About Kyverna Therapeutics

Kyverna Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing cell therapies for patients suffering from autoimmune diseases. Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the treatment of patients with lupus nephritis and systemic sclerosis that is in Phase I clinical trial; and for myasthenia gravis and multiple sclerosis that is in Phase II clinical trial.