Kyverna Therapeutics (NASDAQ:KYTX) Issues Quarterly Earnings Results

Kyverna Therapeutics (NASDAQ:KYTX) announced its quarterly earnings data on Wednesday. The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.12, FiscalAI reports.

Kyverna Therapeutics Price Performance

NASDAQ:KYTX traded up $0.40 during trading hours on Friday, reaching $6.88. The company’s stock had a trading volume of 388,170 shares, compared to its average volume of 446,707. The company has a market cap of $297.56 million, a price-to-earnings ratio of -1.84 and a beta of 3.79. The business’s 50-day moving average is $6.15 and its 200-day moving average is $4.18. Kyverna Therapeutics has a one year low of $1.78 and a one year high of $8.45.

Analyst Ratings Changes

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

Institutional Trading of Kyverna Therapeutics

Large investors have recently modified their holdings of the company. Bridgeway Capital Management LLC raised its holdings in Kyverna Therapeutics by 178.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 174,900 shares of the company’s stock worth $1,049,000 after acquiring an additional 112,000 shares during the period. Jane Street Group LLC acquired a new position in shares of Kyverna Therapeutics during the 2nd quarter worth about $269,000. The Manufacturers Life Insurance Company boosted its stake in Kyverna Therapeutics by 206.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 118,297 shares of the company’s stock valued at $363,000 after purchasing an additional 79,695 shares during the period. AQR Capital Management LLC acquired a new stake in Kyverna Therapeutics in the 1st quarter valued at approximately $137,000. Finally, UBS Group AG increased its position in Kyverna Therapeutics by 60.4% in the 3rd quarter. UBS Group AG now owns 157,422 shares of the company’s stock worth $945,000 after buying an additional 59,264 shares during the period. 18.08% of the stock is owned by institutional investors.

Kyverna Therapeutics Company Profile

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.