Kyverna Therapeutics, Inc.’s (NASDAQ:KYTX) Lock-Up Period To End on August 6th

Kyverna Therapeutics’ (NASDAQ:KYTX) lock-up period is set to end 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 end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright reissued a “neutral” rating and set a $8.00 price objective on shares of Kyverna Therapeutics in a report on Tuesday, July 16th. JPMorgan Chase & Co. cut their price objective on Kyverna Therapeutics from $39.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Kyverna Therapeutics Price Performance

NASDAQ KYTX opened at $7.25 on Friday. The firm has a 50-day moving average of $9.89. Kyverna Therapeutics has a 1-year low of $6.75 and a 1-year high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last posted its earnings results 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 quarter in the previous year, the firm earned ($12.10) earnings per share. Equities research analysts forecast that Kyverna Therapeutics will post -3.34 earnings per share for the current year.

Hedge Funds Weigh In On Kyverna Therapeutics

Several large investors have recently made changes to their positions in KYTX. Jennison Associates LLC bought a new stake in shares of Kyverna Therapeutics in the first quarter worth approximately $34,743,000. Janus Henderson Group PLC bought a new position in shares of Kyverna Therapeutics during the first quarter valued at approximately $15,041,000. Rhumbline Advisers purchased a new stake in Kyverna Therapeutics in the second quarter worth $150,000. Bank of New York Mellon Corp purchased a new stake in shares of Kyverna Therapeutics during the second quarter valued at $418,000. Finally, Vanguard Group Inc. bought a new position in shares of Kyverna Therapeutics in the first quarter worth about $6,563,000. 18.08% of the stock is currently owned by hedge funds and other institutional investors.

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.