KYTX
Kyverna Therapeutics, Inc.Healthcare·Biotechnology
$8.52
$373M market cap
Revenue
$0.0M
Free Cash Flow
$-75.1M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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. The company is also developing KYV-201, an allogeneic CD19 CA
2-Year Price History
$8.67-34.0%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -41.0 | -41.4 | -39.7 | -41.6 | -41.6 | -0.0 | 236.5 | 8.9 | 60.4 | -355.4% | -61.5x | -- |
| Act | 2025-Q4 | 0.0 | -37.0 | -39.3 | -37.8 | -33.5 | -33.5 | -0.0 | 279.3 | 29.0 | 47.2 | -150.3% | -83.3x | -- |
Valuation & Metrics
Market Stats
Price$8.52
Market Cap$373M
Enterprise Value$146M
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-20.1%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-77.5M
Free Cash Flow$-75.1M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-252.9%
WC Change % Rev0.0%
Interest Coverage-70.2x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares5.2M
Days to Cover3.0
Change (vs Prior)+22.0%
Need at least 2 settlement dates for chart
Employees
Headcount112
Revenue / Employee$0
Gross Profit / Employee$-3,134
Cash Runway
37.8months
WATCH
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
67.8%(+57.0% YoY)
98 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
8.1%(+6.0% YoY)
9 filers
Vanguard, iShares, SPDR
Market makers
1.6%(+1.6% YoY)
4 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| GordonMD Global Investments LP | $36.6M | $9.40 | −$1.3M | +$36.6M | +5.2% | $111M |
| GILEAD SCIENCES, INC. | $35.6M | $3.74 | +$0 | +$0 | +2.5% | $2.12B |
| Bain Capital Life Sciences Investors, LLC | $26.8M | $23.79 | +$0 | −$2.2M | +0.2% | $1.11B |
| AIGH Capital Management LLC | $17.3M | $9.21 | +$4.3M | +$17.3M | +0.7% | $488M |
| DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) | $17.3M | $16.45 | +$0 | +$17.3M | -0.8% | $7.18B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $15.4M | $8.63 | +$15.4M | +$15.4M | — | $4.04T |
| PRICE T ROWE ASSOCIATES INC /MD/ | $13.4M | $12.05 | −$1.8M | +$8.4M | -0.2% | $864.93B |
| BALYASNY ASSET MANAGEMENT LLC | $9.7M | $9.46 | +$1.2M | +$9.7M | -0.4% | $48.01B |
| MILLENNIUM MANAGEMENT LLC | $8.7M | $12.76 | +$3.6M | +$6.6M | -0.5% | $127.40B |
| Insight Holdings Group, LLC | $8.5M | $23.08 | +$0 | +$0 | -4.4% | $1.42B |
| MORGAN STANLEY | $8.4M | $9.02 | −$218K | +$7.3M | -0.3% | $1.65T |
| BlackRock, Inc.Passive | $7.6M | $5.54 | +$2.9M | −$6.9M | -0.2% | $5.69T |
| Woodline Partners LP | $7.3M | $13.88 | +$2K | +$7.3M | -0.1% | $26.43B |
| D. E. Shaw & Co., Inc. | $6.2M | $9.18 | +$1.8M | +$6.2M | -0.3% | $118.02B |
| Propel Bio Management, LLC | $5.6M | $9.40 | −$192K | +$5.6M | -3.0% | $159M |
| MBB PUBLIC MARKETS I LLC | $5.3M | $6.63 | +$0 | +$0 | -0.7% | $835M |
| MARSHALL WACE, LLP | $5.2M | $11.53 | +$4.1M | +$5.0M | +0.6% | $92.71B |
| SUSQUEHANNA INTERNATIONAL GROUP, LLPMM | $5.0M | $7.36 | +$2.9M | +$4.7M | -0.6% | $77.14B |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $4.3M | $13.50 | −$10.1M | +$4.3M | -0.1% | $64.61B |
| UBS Group AG | $3.9M | $7.45 | +$2.1M | +$2.3M | -0.3% | $562.11B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
+0.44%
avg per quarter
Holders (ex-self)
+0.82%
excl. this stock
Buyers (this Q)
+0.21%
49 buyers · $0.05B in
Sellers (this Q)
-0.18%
36 sellers · $0.03B out
alpha coverage: 94% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+7.2%
how holders react when this stock falls
On quiet Qs
-1.4%
−10% to +10% baseline
On rallies (+10%+)
-15.0%
how they react when this stock rises
Holders' portfolio flow this Q
+2.9%
inflows — adds are organic
Sellers' portfolio flow this Q
-0.8%
Sellers' overall flow ~ flat.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-12.5%
Holder mid (any stock)
-5.3%
Holder rally (any stock)
-6.1%
Biggest decreases this quarter
ADAGE CAPITAL PARTNERS GP, L.L.C.−$10.1Mα-0.1Alyeska Investment Group, L.P.exited−$5.6MRFG Advisory, LLCexited−$4.2MHEIGHTS CAPITAL MANAGEMENT, INCexited−$2.6MMonashee Investment Management LLCexited−$1.8MPRICE T ROWE ASSOCIATES INC /MD/−$1.8Mα-0.2Maven Securities LTDexited−$1.4MGordonMD Global Investments LP−$1.3Mα+5.2XTX Topco Ltdexited−$219KMORGAN STANLEY−$218Kα-0.3
New buyers this quarter
Top-5 holders · 44.5%
GordonMD Global Investments LP--
GILEAD SCIENCES, INC.--
Bain Capital Life Sciences Investors, LLC--
AIGH Capital Management LLC--
DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Vida Ventures Advisors, LLC—Northpond Ventures, LLC—Bain Capital Life Sciences Investors, LLC3.1MRTW INVESTMENTS, LP—GordonMD Global Investments LP4.2MGILEAD SCIENCES, INC.4.1MDEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)2.0MJENNISON ASSOCIATES LLC—PRICE T ROWE ASSOCIATES INC /MD/1.6MInsight Holdings Group, LLC989K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (1 analysts)$25.0019340.0%
Last Year (7 analysts)$25.4319850.0%
Current Price$8.52
Analyst Ratings
4
Buy: 4Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$1000K
1 txn · 1 insider · 133,333 sh
Sells ($, 12mo)
$293K
1 txn · 1 insider · 23,998 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$1000K
1 txn · 1 insider · 133,333 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2025-12-18 | BUY | SEIDENBERG BETH C | director | 133,333 | $7.50 | $1000K | $6.52M |
| 2025-12-18 | BUY | Westlake BioPartners Opportunity Fund I, L.P. | 10 percent owner | 133,333 | $7.50 | $1000K | $6.52M |
| 2025-12-15 | SELL | Walker Karen Marie | officer: Chief Technology Officer | 23,998 | $12.20 | $293K | $276K |
Order Flow (FINRA, ~3w lag)
29.1%retail-1.4pp
16.1%dark-2.8pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Kyverna Therapeutics: Burning Cash While Forgiving Insiders and Fighting Litigants
Overall Risk
7/10
Fraud
4/10
Dilution
8/10
Insolvency
7/10
Earnings Overstated
2/10
Hidden Liabilities
6/10
Legal
9/10
Audit Warnings
3/10
Hidden Upside
4/10
Contextually Acceptable
4/10