Kyverna Therapeutics (NASDAQ:KYTX) Releases Earnings Results, Beats Expectations By $0.04 EPS

Kyverna Therapeutics (NASDAQ:KYTX) issued its quarterly earnings results on Tuesday. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.04, FiscalAI reports.

Kyverna Therapeutics Stock Performance

NASDAQ:KYTX traded up $0.13 during midday trading on Tuesday, hitting $8.02. The company’s stock had a trading volume of 657,572 shares, compared to its average volume of 934,387. Kyverna Therapeutics has a fifty-two week low of $2.80 and a fifty-two week high of $13.67. The firm’s 50 day moving average is $8.05 and its 200-day moving average is $8.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.15 and a quick ratio of 8.15. The firm has a market cap of $487.54 million, a P/E ratio of -2.45 and a beta of 1.93.

Institutional Trading of Kyverna Therapeutics

Large investors have recently made changes to their positions in the business. Empowered Funds LLC acquired a new stake in shares of Kyverna Therapeutics in the fourth quarter worth $169,000. AQR Capital Management LLC acquired a new position in shares of Kyverna Therapeutics in the 1st quarter valued at about $137,000. Federated Hermes Inc. lifted its holdings in shares of Kyverna Therapeutics by 22.2% in the 2nd quarter. Federated Hermes Inc. now owns 44,000 shares of the company’s stock valued at $135,000 after buying an additional 8,000 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Kyverna Therapeutics by 31.1% in the first quarter. Cubist Systematic Strategies LLC now owns 68,628 shares of the company’s stock worth $132,000 after buying an additional 16,267 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Kyverna Therapeutics during the second quarter worth about $107,000. 18.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on KYTX. JPMorgan Chase & Co. lowered their target price on shares of Kyverna Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Kyverna Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kyverna Therapeutics in a report on Wednesday, June 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Kyverna Therapeutics in a research note on Wednesday, June 3rd. Five 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.