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KYTX · NASDAQ · Biotechnology

Kyverna Therapeutics

Develops miv-cel, an autologous CD19 CAR-T candidate for B-cell-driven autoimmune diseases.

$8.53

After-hours close+0.17 (+2.03%)

At close$8.36(−3.24%)

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Profile

Kyverna Therapeutics, Inc.KYTXHealth Care

Develops miv-cel (KYV-101), an autologous CD19-targeting CAR-T candidate for B-cell-driven autoimmune diseases. The clinical-stage company focuses first on neuroimmunology and is advancing studies in stiff person syndrome, generalized myasthenia gravis, multiple sclerosis, and rheumatoid arthritis.

Develops miv-cel (KYV-101), an autologous CD19-targeting CAR-T candidate for B-cell-driven autoimmune diseases. Initial neuroimmunology work centers on stiff person syndrome and generalized myasthenia gravis, while studies also cover multiple sclerosis and rheumatoid arthritis.

The program relies on a CAR construct licensed from the U.S. National Institutes of Health, an asset-origin choice that shaped the company's autoimmune focus. Founded in 2018, Kyverna operates from Emeryville, California, and adopted its current name in 2019. It is a clinical-stage business, so development progress and the conduct of its studies determine its operating frame.

Company facts

CEOWarner Biddle

ListedFeb 8, 2024

ExchangeNASDAQ

HeadquartersEmeryville, CA

CountryUnited States

Employees129

CIK0001994702

ISINUS5019761049

Key statistics

Market cap$508.9M

EPS (ttm)−$2.94

P/E (ttm)−2.85

ROE-81.9%

P/B3.08

P/S0.00

Dividend yield—

Beta2.61vs XLV 0.72

Year to date −4.7% · Average volume (30d) 747.4K

Analysts

Price target, next 12 months$25.00+198.7%Median of 4 analysts · vs the Aug 28 close

ConsensusBuy4 of 4 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $8.37

High$25.00+198.7%

Median$25.00+198.7%

Low$25.00+198.7%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
May 15, 2026	H.C. Wainwright	Target		$20	$25
Dec 16, 2025	Wells Fargo	Reiterate	Overweight		$33
Dec 15, 2025	UBS	Target			$32
Dec 15, 2025	Morgan Stanley	Target		$25	$33
Dec 4, 2025	Morgan Stanley	Reiterate	Overweight		$25

Earnings

EPS

Estimate−$0.68

ReportedDue Nov 11, 2026

Revenue

Estimate—

ReportedDue Nov 11, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 12, 2026Q2 FY26	−$0.68	−$0.63	+7.1%	—	—	—	+0.37%
Aug 11, 2026Q2 FY26	−$0.68	−$0.63	+7.1%	—	—	—	+0.37%
May 12, 2026Q1 FY26	−$0.75	−$0.66	+12.0%	—	—	—	+5.38%
Mar 26, 2026Q4 FY25	−$0.85	−$0.80	+5.3%	—	—	—	−2.86%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$0	$0	$0	$0	$0	$0
Gross profit	−$501.0K	−$515.0K	$0	$0	−$351.0K	$0
Operating income	−$47.4M	−$44.4M	−$38.7M	−$39.3M	−$41.4M	−$39.6M
Net income	−$44.6M	−$42.1M	−$36.8M	−$37.8M	−$39.7M	−$38.3M
Diluted EPS	−$1.03	−$0.97	−$0.85	−$0.80	−$0.66	−$0.63
Gross margin	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—

Fiscal years (4-quarter sums)FY23 $0 · FY24 $0 · FY25 $0

Balance sheet, Jun 30, 2026Cash & short-term investments $199.4M · Total debt $33.0M · Total assets $219.8M · Shareholders' equity $165.5M

Dividends

No dividends on record.

Ownership

Institutions 57.28%34.82M sharesInsiders 9.46%5.75M sharesOther 33.26%20.22M shares

Shares outstanding 60.80M · Float 27.53M · 45.3% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Fred E. Cohen · director	4.55M	7.48%	Form 4	May 29, 2026
Dr. Sean E. Harper (“Harper”)	4.52M	10.50%	13G	Nov 12, 2024
Gordonmd Global Investments LP	4.24M	6.98%	13F	May 15, 2026
Gilead Sciences, Inc.	4.13M	6.79%	13F	May 8, 2026
Westlake BioPartners Fund I, L.P. ("Westlake Fund I")	3.79M	6.30%	13G	Feb 6, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Dec 18, 2025	Westlake BioPartners Opportunity Fund I, L.P.	10 percent owner	+133,333	$7.50
Dec 18, 2025	Beth C. Seidenberg	director	+133,333	$7.50
Dec 15, 2025	Karen Marie Walker	officer: Chief Technology Officer	−23,998	$12.20