Brokers Issue Forecasts for Kyverna Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:KYTX)

Kyverna Therapeutics, Inc. (NASDAQ:KYTX) – Research analysts at HC Wainwright decreased their Q3 2024 earnings per share estimates for shares of Kyverna Therapeutics in a research note issued on Thursday, August 15th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($0.68) per share for the quarter, down from their previous estimate of ($0.55). HC Wainwright currently has a “Neutral” rating and a $7.00 target price on the stock. The consensus estimate for Kyverna Therapeutics’ current full-year earnings is ($3.34) per share. HC Wainwright also issued estimates for Kyverna Therapeutics’ Q4 2024 earnings at ($0.70) EPS, FY2024 earnings at ($3.01) EPS, Q1 2025 earnings at ($0.72) EPS, Q2 2025 earnings at ($0.74) EPS, Q3 2025 earnings at ($0.76) EPS, Q4 2025 earnings at ($0.78) EPS and FY2025 earnings at ($2.99) EPS.

Separately, JPMorgan Chase & Co. lowered their price objective on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.40.

Kyverna Therapeutics Price Performance

Shares of Kyverna Therapeutics stock opened at $7.41 on Monday. The firm’s fifty day simple moving average is $8.39. Kyverna Therapeutics has a 1 year low of $6.30 and a 1 year high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.03.

Institutional Trading of Kyverna Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Bain Capital Life Sciences Investors LLC acquired a new position in shares of Kyverna Therapeutics in the first quarter worth approximately $78,590,000. Deerfield Management Company L.P. Series C lifted its stake in shares of Kyverna Therapeutics by 35.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,983,000 shares of the company’s stock worth $14,872,000 after acquiring an additional 520,663 shares during the period. Novo Holdings A S lifted its stake in shares of Kyverna Therapeutics by 150.0% in the second quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock worth $13,125,000 after acquiring an additional 1,050,000 shares during the period. Jennison Associates LLC acquired a new position in shares of Kyverna Therapeutics in the first quarter worth approximately $34,743,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Kyverna Therapeutics in the first quarter worth approximately $23,093,000. 18.08% of the stock is owned by institutional investors and hedge funds.

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.