Kyverna Therapeutics (NASDAQ:KYTX) Shares Down 2.2% - Here's Why

Key Points

• Kyverna Therapeutics shares fell 2.2% to $5.27 in Monday trading, with 810,101 shares changing hands—slightly below average volume.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $29 price target, despite one “sell” rating. Needham set a $25 target, while William Blair upgraded the stock to “strong buy.”
• The clinical-stage biotech is developing KYV-101, an investigational CAR-T therapy targeting severe autoimmune diseases including lupus nephritis, systemic sclerosis and multiple sclerosis. The company reported a quarterly loss of $0.63 per share, beating estimates by $0.05.

Kyverna Therapeutics, Inc. (NASDAQ:KYTX - Get Free Report) shares dropped 2.2% during trading on Monday. The company traded as low as $5.18 and last traded at $5.27. 810,101 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 858,089 shares. The stock had previously closed at $5.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating on shares of Kyverna Therapeutics in a report on Thursday. Benchmark reaffirmed a "buy" rating on shares of Kyverna Therapeutics in a report on Friday, September 25th. William Blair raised Kyverna Therapeutics to a "strong-buy" rating in a report on Wednesday, September 23rd. Needham & Company LLC set a $25.00 target price on Kyverna Therapeutics in a research report on Friday, September 25th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Kyverna Therapeutics in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Kyverna Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

Kyverna Therapeutics Stock Performance

The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.15. The company's 50-day simple moving average is $7.19 and its 200-day simple moving average is $8.16. The stock has a market capitalization of $325.90 million, a price-to-earnings ratio of -1.79 and a beta of 2.06.

Kyverna Therapeutics (NASDAQ:KYTX - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.05. On average, analysts expect that Kyverna Therapeutics, Inc. will post -2.70 EPS for the current year.

Institutional Trading of Kyverna Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new position in Kyverna Therapeutics during the 3rd quarter worth $78,000. IFP Advisors Inc grew its position in shares of Kyverna Therapeutics by 132.0% in the 3rd quarter. IFP Advisors Inc now owns 29,000 shares of the company's stock valued at $197,000 after buying an additional 16,500 shares during the last quarter. Baldwin Wealth Partners LLC MA bought a new stake in shares of Kyverna Therapeutics in the 3rd quarter valued at about $95,000. WINTON GROUP Ltd bought a new stake in shares of Kyverna Therapeutics in the 2nd quarter valued at about $155,000. Finally, Spark Investment Management LLC acquired a new stake in shares of Kyverna Therapeutics in the second quarter valued at about $224,000. 18.08% of the stock is currently owned by institutional investors and hedge funds.

About Kyverna Therapeutics

Kyverna Therapeutics is a clinical-stage biotechnology company developing engineered T-cell therapies for patients with severe autoimmune diseases. The company's approach is designed to selectively eliminate disease-causing B cells, which play a central role in many autoimmune disorders, with the goal of achieving deep and durable disease remission.

Kyverna's lead investigational product, KYV-101, is an autologous CD19-directed chimeric antigen receptor (CAR) T-cell therapy. The treatment is being evaluated in clinical studies for conditions including lupus nephritis, systemic sclerosis, multiple sclerosis and other serious autoimmune diseases.

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