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

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

Kyverna Therapeutics Trading Up 2.0%

KYTX stock opened at $8.03 on Friday. The company has a market cap of $351.68 million, a PE ratio of -2.15 and a beta of 3.32. The stock has a 50-day moving average price of $8.30 and a two-hundred day moving average price of $7.55. Kyverna Therapeutics has a 12-month low of $1.78 and a 12-month high of $13.67.

Hedge Funds Weigh In On Kyverna Therapeutics

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in Kyverna Therapeutics during the 4th quarter worth approximately $169,000. Quadrature Capital Ltd purchased a new stake in shares of Kyverna Therapeutics during the fourth quarter valued at approximately $539,000. Millennium Management LLC raised its stake in shares of Kyverna Therapeutics by 7.6% during the fourth quarter. Millennium Management LLC now owns 593,369 shares of the company’s stock valued at $5,578,000 after purchasing an additional 41,734 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Kyverna Therapeutics during the fourth quarter valued at approximately $9,220,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Kyverna Therapeutics during the fourth quarter worth $540,000. Hedge funds and other institutional investors own 18.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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