Kyverna Therapeutics (NASDAQ:KYTX) Posts Quarterly Earnings Results, Hits Expectations

Kyverna Therapeutics (NASDAQ:KYTX) announced its quarterly earnings data on Thursday. The company reported ($0.80) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.80), FiscalAI reports.

Kyverna Therapeutics Trading Up 2.0%

KYTX traded up $0.16 during midday trading on Thursday, hitting $8.03. 559,340 shares of the company were exchanged, compared to its average volume of 748,013. The company’s 50 day simple moving average is $8.31 and its 200 day simple moving average is $7.55. The firm has a market capitalization of $351.71 million, a price-to-earnings 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.

Institutional Trading of Kyverna Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in Kyverna Therapeutics during the third quarter worth about $28,000. EntryPoint Capital LLC acquired a new position in Kyverna Therapeutics in the fourth quarter valued at approximately $94,000. Ameriprise Financial Inc. purchased a new stake in Kyverna Therapeutics in the 3rd quarter worth approximately $77,000. Qube Research & Technologies Ltd purchased a new stake in Kyverna Therapeutics in the 2nd quarter worth approximately $43,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Kyverna Therapeutics during the 3rd quarter worth approximately $98,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Analyst Ratings Changes

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

About Kyverna Therapeutics

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.