Kyverna Therapeutics (NASDAQ:KYTX) Announces Earnings Results

Kyverna Therapeutics (NASDAQ:KYTX) posted its quarterly earnings results on Thursday. The company reported ($0.80) earnings per share for the quarter, hitting the consensus estimate of ($0.80), FiscalAI reports.

Kyverna Therapeutics Trading Up 2.0%

Shares of KYTX traded up $0.16 during mid-day trading on Thursday, reaching $8.03. The company’s stock had a trading volume of 560,374 shares, compared to its average volume of 750,228. The stock has a market cap of $351.71 million, a P/E ratio of -2.15 and a beta of 3.32. Kyverna Therapeutics has a 1-year low of $1.78 and a 1-year high of $13.67. The business has a 50-day simple moving average of $8.31 and a two-hundred day simple moving average of $7.55.

Institutional Investors Weigh In On Kyverna Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Kyverna Therapeutics by 16.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,762,617 shares of the company’s stock worth $16,569,000 after purchasing an additional 250,418 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Kyverna Therapeutics in the fourth quarter valued at about $15,667,000. Vanguard Group Inc. lifted its stake in shares of Kyverna Therapeutics by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,322,625 shares of the company’s stock worth $7,936,000 after buying an additional 9,858 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Kyverna Therapeutics during the 4th quarter worth about $9,220,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Kyverna Therapeutics during the 4th quarter worth about $5,640,000. Institutional investors and hedge funds own 18.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KYTX shares. Morgan Stanley set a $33.00 price objective on Kyverna Therapeutics in a report on Monday, December 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Monday, December 29th. Wells Fargo & Company upped their price target on shares of Kyverna Therapeutics from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Wall Street Zen cut shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.67.

Kyverna Therapeutics Company Profile

Kyverna Therapeutics is a clinical‐stage biotechnology company dedicated to developing engineered regulatory T‐cell (Treg) therapies for the treatment of autoimmune and inflammatory diseases. Leveraging a proprietary platform for the isolation, expansion and modification of Treg cells, the company aims to restore immune homeostasis in patients by delivering antigen‐specific cell therapies that selectively target diseased tissues while minimizing systemic immunosuppression.

The company’s lead programs include an allogeneic Treg candidate in clinical development for ulcerative colitis, with additional preclinical assets focused on rheumatoid arthritis and other chronic inflammatory conditions.