Kyverna Therapeutics’ (NASDAQ:KYTX – Get Free Report) lock-up period is set to expire on Tuesday, August 6th. Kyverna Therapeutics had issued 14,500,000 shares in its IPO on February 8th. The total size of the offering was $319,000,000 based on an initial share price of $22.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Analyst Ratings Changes
Several brokerages have recently weighed in on KYTX. JPMorgan Chase & Co. reduced their price objective on shares of Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. HC Wainwright reissued a “neutral” rating and issued a $8.00 price target on shares of Kyverna Therapeutics in a research report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.60.
Check Out Our Latest Stock Analysis on KYTX
Kyverna Therapeutics Stock Performance
Kyverna Therapeutics (NASDAQ:KYTX – Get Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.28). During the same period in the prior year, the firm earned ($12.10) EPS. Analysts anticipate that Kyverna Therapeutics will post -3.34 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Bain Capital Life Sciences Investors LLC purchased a new position in shares of Kyverna Therapeutics in the 1st quarter valued at about $78,590,000. Jennison Associates LLC purchased a new position in shares of Kyverna Therapeutics in the 1st quarter worth $34,743,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Kyverna Therapeutics in the 1st quarter worth about $23,093,000. Janus Henderson Group PLC purchased a new position in Kyverna Therapeutics in the first quarter valued at approximately $15,041,000. Finally, Avoro Capital Advisors LLC acquired a new position in shares of Kyverna Therapeutics during the 1st quarter valued at $11,799,000. Institutional investors and hedge funds own 18.08% of the company’s stock.
About Kyverna Therapeutics
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.
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