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

Kyverna Therapeutics’ (NASDAQ:KYTX) lock-up period will expire on Tuesday, August 6th. Kyverna Therapeutics had issued 14,500,000 shares in its initial public offering on February 8th. The total size of the offering was $319,000,000 based on an initial share price of $22.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KYTX shares. HC Wainwright restated a “neutral” rating and set a $8.00 price objective on shares of Kyverna Therapeutics in a research note on Tuesday, July 16th. JPMorgan Chase & Co. dropped their price target on shares of 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 equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Kyverna Therapeutics Stock Performance

KYTX stock opened at $7.04 on Tuesday. The stock has a fifty day simple moving average of $9.89. Kyverna Therapeutics has a 1-year low of $6.46 and a 1-year high of $35.06.

Kyverna Therapeutics (NASDAQ:KYTX) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.28). During the same period in the prior year, the firm earned ($12.10) EPS. As a group, research analysts predict that Kyverna Therapeutics will post -3.34 earnings per share for the current year.

Institutional Investors Weigh In On Kyverna Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD bought a new position in Kyverna Therapeutics during the first quarter worth about $23,093,000. Jennison Associates LLC purchased a new stake in shares of Kyverna Therapeutics during the 1st quarter valued at approximately $34,743,000. Janus Henderson Group PLC bought a new position in Kyverna Therapeutics in the 1st quarter worth approximately $15,041,000. Bank of New York Mellon Corp purchased a new position in Kyverna Therapeutics in the 2nd quarter valued at approximately $418,000. Finally, TD Asset Management Inc bought a new stake in Kyverna Therapeutics during the 2nd quarter valued at $677,000. Institutional investors 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.