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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#3479
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$259M
Peter Maag
We are a patient-centered, clinical-stage biopharmaceutical company focused on developing cell therapies for patients suffering from autoimmune diseases. We were incorporated in Delaware in June 2018 under the name BAIT Therapeutics, Inc., and changed our name to Kyverna Therapeutics, Inc. in October 2019. Our principal executive offices are located at 5980 Horton St., STE 550, Emeryville, CA.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$KYTX Kyverna Therapeutics, Inc. | 41 | 25 | 19 | 81 | - | - | -104.0% | -84.4% | - | - | - | - | 0.0% | 23.0x | $259M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
Kyverna Therapeutics, Inc. (KYTX) receives a "Reduce" rating with a composite score of 40.5/100. It ranks #3479 out of 7,333 stocks in our coverage universe and carries a 2-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Peter Maag
Chief Executive Officer
25
25
32
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for KYTX
Outperforming peers — winners tend to keep winning over 3-12 months
Expensive relative to fundamentals — limited margin of safety
Weak fundamentals — higher risk of value trap
High volatility — wider range of outcomes increases timing risk
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for KYTX.
View All RatingsInsufficient data for Financial Analysis
ROE proxy -104.0% (sector -2.5%)
GM N/A vs sector 43%, OM N/A vs sector 1%
Capital turnover N/A
Rev growth N/A, 2yr history
Interest coverage -5532.4x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Kyverna Therapeutics, Inc. receives a Reduce rating from our analysis, with a composite score of 40.5/100 and 2 out of 5 stars, ranking #3479 out of 7,333 stocks. KYTX's factor profile shows weakness across multiple dimensions, suggesting the stock may underperform going forward. Existing holders may want to consider trimming positions or tightening stop-losses.
KYTX's quality score of 25/100 is below average, suggesting challenges with profitability or capital efficiency. The company reports a return on equity of -104.0% (sector avg: -2.5%). Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
KYTX registers a value score of just 19/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/B ratio of 3.01x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
Kyverna Therapeutics, Inc.'s investment score of 25/100 suggests limited reinvestment activity. Key growth metrics include a return on assets of -84.4% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
KYTX shows strong momentum characteristics with a score of 81/100. The stock has been trending above key moving averages, indicating solid demand from institutional buyers. Revenue growth data is not currently available, while a beta of 1.50 reflects its sensitivity to broader market moves. This level of momentum typically signals sustained investor confidence and favorable near-term price action.
KYTX's stability score of 32/100 signals elevated volatility and/or leverage concerns. Key stability metrics include a beta of 1.50 and a debt-to-equity ratio of 23.00x (sector avg: 0.2x). Investors should be prepared for wider-than-average price swings and consider position sizing accordingly to manage portfolio risk.
The short interest score of 46/100 for KYTX suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include high market sensitivity (beta: 1.50), elevated leverage (D/E: 23.00x), micro-cap liquidity risk. With a $259M market cap (micro-cap), Kyverna Therapeutics, Inc. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
Kyverna Therapeutics, Inc. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #3479 of 7,333 overall (53rd percentile). Key comparisons include ROE of -104.0% trailing the -2.5% sector median. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While KYTX currently exhibits a REDUCE profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Value (19) would have the largest impact on the composite score.
ROE 4093% ABOVE SECTOR MEDIAN (FAVORABLE)
Debt/Equity 11400% ABOVE SECTOR MEDIAN
Div. Yield NaN% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate Kyverna Therapeutics, Inc. (KYTX) as a Reduce with a composite score of 40.5/100 at a current price of $7.95. The quantitative profile shows weakness across multiple dimensions, suggesting limited upside potential and elevated risk of underperformance relative to peers over the next 12 months.
The rating is primarily driven by strength in momentum (81th percentile) and stability (32th percentile), which together account for the majority of the composite score. Offsetting weakness in value (19th percentile) and quality (25th percentile) tempers our overall conviction. We assign a No Moat rating (21/100), High uncertainty, and Poor capital allocation.
Key items to watch: valuation compression risk if growth disappoints. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
Kyverna Therapeutics, Inc. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 40.5/100 places it at rank #3479 in our full 7,333-stock universe. At $259M in market capitalization, Kyverna Therapeutics, Inc. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Momentum indicators (81th percentile) are constructive regarding the near-term price trend. Revenue growth data is unavailable, limiting our ability to confirm whether momentum is fundamentally supported.
Margin data is not available for Kyverna Therapeutics, Inc., which limits our assessment of the company's cost structure and operating efficiency. We rely on factor-based signals to infer business quality in the absence of detailed margin data.
At a current price of $7.95, Kyverna Therapeutics, Inc. is trading at a premium to fundamental value. Our value factor score of 19/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at P/B of 3.0x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
A conservative balance sheet (23% D/E) provides financial flexibility for acquisitions, buybacks, or weathering economic downturns without dilution.
Positive momentum (81th percentile) indicates institutional accumulation and favorable technical dynamics that tend to persist in the intermediate term.
The Reduce rating (composite 40.5/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Below-average quality (25th percentile) raises durability concerns about the fundamental profile and increases the risk of negative earnings surprises.
High beta of 1.50 means amplified losses in market selloffs — in a broad market correction, this stock would likely decline more than the index.
We assign a High uncertainty rating to Kyverna Therapeutics, Inc.. Key risk factors include elevated market sensitivity (beta of 1.50), below-average price stability (32th percentile), weak quality scores (25th percentile). The wide range of potential outcomes widens our fair value estimate and increases the possibility of permanent capital impairment. Investors considering this name should size positions accordingly and demand a meaningful margin of safety before initiating.
Specific risk factors that inform our assessment include: elevated market sensitivity (beta of 1.50); below-average price stability (32th percentile); weak quality scores (25th percentile). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 32th percentile and quality factor at the 25th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: conservative leverage (23% D/E) limits balance sheet risk. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile warrants caution and disciplined position management.
We rate Kyverna Therapeutics, Inc.'s capital allocation as Poor. Key concerns include low returns on equity (-104.0%), weak asset returns (ROA -84.4%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — Kyverna Therapeutics, Inc. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, Kyverna Therapeutics, Inc. receives a Reduce rating with a composite score of 40.5/100 (rank #3479 of 7,333). Our quantitative framework assigns a No Moat (21/100, trend: stable), High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 36/100.
Our analysis does not support a constructive view on Kyverna Therapeutics, Inc. at this time. The combination of limited competitive advantages, high uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign Kyverna Therapeutics, Inc. a meaningful economic moat, scoring 21/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 10/20.
The strongest moat sources are margin superiority (10/20) and financial resilience (8.7/20). GM N/A vs sector 43%, OM N/A vs sector 1%. Interest coverage -5532.4x. These pillars form the core of Kyverna Therapeutics, Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and growth durability (0/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect Kyverna Therapeutics, Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers are not clearly identifiable from current fundamentals. This may reflect a company in transition, a cyclical downturn, or structural challenges in the business model. We assign a quality factor of 25/100 which further underscores our concern regarding earnings sustainability.
Return metrics include ROE of -104.0% and ROA of -84.4%. Relative to the Manufacturing sector, sector comparison data is limited, and ROE of -104.0% compares to a sector median of -2.5%.
The balance sheet reflects a conservatively managed balance sheet with D/E of 23%. The sector median D/E is 0%, putting Kyverna Therapeutics, Inc. at higher leverage than the typical peer. Overall balance sheet health is adequate for the current business environment.
Above 50MA
37.18%
Net New Highs
+51081
U.S. stock markets experienced a slight decline on December 15, 2025, with the S&P 500, Nasdaq, and Dow Jones showing modest losses as investors await economic data and potential Federal Reserve rate decisions.
Kyverna Therapeutics has appointed Sravan K. Emany and Andrew Miller, Ph.D. to its Board of Directors, with Emany taking on the role of Audit Committee Chair. These appointments are expected to bolster Kyverna's financial strategy, capital markets expertise, clinical development, and product approval experience as the company advances its autoimmune CAR T programs toward commercialization. Dr. Miller is notably the founder and former President of R&D at Karuna Therapeutics, which was acquired by Bristol Myers Squibb for $14 billion.
Kyverna Therapeutics (NASDAQ:KYTX) has received a consensus "Moderate Buy" rating from analysts, with an average one-year price target of $28.67. Insider activity shows mixed signals, with CTO Karen Walker selling shares while Director Beth C. Seidenberg significantly increased her stake. The company reported a narrower-than-expected EPS loss of $0.85 in its last quarterly earnings.
Westlake BioPartners, through its Opportunity Fund I, L.P. entities, recently purchased 133,333 shares of Kyverna Therapeutics Inc. (NASDAQ:KYTX) common stock for a total of $999,997. This transaction, executed on December 18, 2025, increased their direct holdings to 869,317 shares for the Opportunity Fund and 3,787,940 shares for Westlake BioPartners Fund I, L.P. The purchase follows Kyverna Therapeutics' recent $100 million public offering and a raised price target from Morgan Stanley to $33, maintaining an Overweight rating.
Kyverna Therapeutics director Beth Seidenberg recently purchased 133,333 shares of KYTX stock for approximately $1 million, increasing her total holdings to 869,317 shares. The stock is currently trading at $8.29, and analysts maintain a "Moderate Buy" consensus with an average price target of $28.67. Kyverna Therapeutics is a clinical-stage biotechnology company focused on developing engineered regulatory T-cell therapies for autoimmune diseases.