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Data-driven stock valuation

Kyverna Therapeutics, Inc. (KYTX) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Kyverna Therapeutics, Inc. stock $3.04, price $4.88, that is 37.6% below the price, quality 25 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare US

KT Kyverna Therapeutics, Inc. logo Thin data Nov 8, 2026

Kyverna Therapeutics, Inc.

KYTX · US
Very expensive, weak quality

Our calculation puts a fair price 38% below what the stock costs today.

Mixed Growth (revenue YoY +24.2 %/yr in USD)
Mixed vs. peers (4/7)
Fair value $3.04 · Strongly overvalued (−37.6%)
Quality 25/100
Negative free cash flow
Narrow moat 5/100 · thin data
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$30.10 $1.83 Fair Value $3.04 Feb 2024 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

33‑month range $1.83 – $30.10 · fair‑value band $2.01 – $3.81 · the $4.88 price screens above the $3.04 fair value. As of Nov 8, 2026.

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Company profile

Kyverna Therapeutics, Inc., a late-stage biopharmaceutical company, focuses on developing cell therapies for patients with autoimmune diseases.

Show moreShow less

Its lead product candidate is KYV-101, an autologous CD19 CAR T-cell product candidate for the treatment of stiff person syndrome, myasthenia gravis, and autoimmune diseases.

The company is also developing KYV-102, an autologous CD19 CAR T-cell product candidate with whole blood rapid manufacturing; and KYV-201, an allogeneic CD19 CAR T-cell product candidate.

It has a license and collaboration agreement with Intellia Therapeutics, Inc. to research and develop an allogeneic CD19-directed CAR cell therapy product. The company was formerly known as BAIT Therapeutics, Inc. and changed its name to Kyverna Therapeutics, Inc. in October 2019.

Kyverna Therapeutics, Inc. was incorporated in 2018 and is headquartered in Emeryville, California.

Stock analysis

Kyverna Therapeutics, Inc. (KYTX) currently trades at $4.88, while our model-based Fair Value estimate is $3.04, 38% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $2.01 (bear) to $3.81 (bull), the price of $4.88 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 25/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Kyverna Therapeutics, Inc. Common Stock reported revenue of $0 in FY2025 versus $5.7M in FY2021. Reported net income was −$161M in FY2025.

Key figures

Market cap $297M Micro · EPS (TTM) $−2.93 · Return on equity −87.2% · Return on assets (EBIT) −52.5% (5-year average) · Free cash flow −$154M · Net cash $95.1M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (low confidence).

What moves the price

The share trades about 57% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −38%, KYTX screens richer than that median.

Fair Value models

Bear $2.01 Fair Value $3.04 Bull $3.81
Price $4.88 · Downside -37.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) $2.36 $3.58 $4.48 52
All 1 models by family
Asset-Based
NCAV (Graham) $2.36 $3.58 $4.48 52

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 25/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 30
Do the profits arrive as real cash?
Financial strength 75
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 9
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, no officer or director bought or sold shares on the open market.

  • BuyWestlake BioPartners Opportunity Fund I, L.P.10% owner133,333 shares at $7.50$999,998Dec 18, 2025
  • BuyBeth C SeidenbergDirector133,333 shares at $7.50$999,998Dec 18, 2025
  • SaleKaren Marie WalkerChief Technology Officer23,998 shares at $12.20$292,776Dec 15, 202510b5-1 plan

Plus 5 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 29/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

KYTX screens overvalued: fair value 38% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 558 stocks

Beats the industry median on 4/6 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 25 · Bottom 25%
Fair Value upside −37.6% · Above median
Profitability
Return on assets −54.9% · Bottom 25%
Operating margin (12 months) 0.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.28× · Cheaper than median

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Incyte Corporation INCY $119.65 $199.23 +67% vs KYTX
Regeneron Pharmaceuticals, Inc REGN $904.35 $1,275 +41% vs KYTX
Genmab A/S GMAB kr 3,527 kr 3,999 +13% vs KYTX
Samsung Biologics Co 207940 1,516,000 KRW 1,667,600 KRW +10% vs KYTX
WuXi Biologics (Cayman) Inc 2269 HK$47.62 HK$52.38 +10% vs KYTX
Vertex Pharmaceuticals Incorporated VRTX $547.09 $596.75 +9% vs KYTX
argenx SE ARGX $927.21 $908.40 −2% vs KYTX
CSL Limited CSL A$202.04 A$183.04 −9% vs KYTX
Celltrion, Inc 068270 211,000 KRW 74,945 KRW −64% vs KYTX
Royalty Pharma plc RPRX $67.30 $19.01 −72% vs KYTX

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Cite: Fair Value Calculator (2026). "Kyverna Therapeutics, Inc. Common Stock Fair Value". https://www.fairvalue-calculator.com/stock/KYTX

Frequently asked questions

Is Kyverna Therapeutics, Inc. (KYTX) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $3.04 versus a price of $4.88, about 38% lower (overvalued).
What is the fair value of KYTX?
Our model-based fair value for Kyverna Therapeutics, Inc. is $3.04 (as of Nov 8, 2026), built from audited fundamentals. The current price: $4.88.
What is the quality score of KYTX?
Kyverna Therapeutics, Inc. has a Quality Score of 25/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Kyverna Therapeutics, Inc. (KYTX)?
Our model-based price target is the fair value of $3.04 (as of Nov 8, 2026) from 1 valuation models. Cautious scenario $2.01, optimistic scenario $3.81. It is a calculation from audited fundamentals, not an analyst target.
What is the Kyverna Therapeutics, Inc. Common Stock stock forecast for 2026?
Our models put fair value at $3.04, about 38% lower versus a price of $4.88 (overvalued). Cautious scenario $2.01, optimistic scenario $3.81. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Kyverna Therapeutics, Inc. (KYTX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kyverna Therapeutics, Inc. it is $3.04 per share (as of Nov 8, 2026), against a price of $4.88. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Kyverna Therapeutics, Inc. Common Stock stock overvalued or undervalued in 2026?
As of Nov 8, 2026, KYTX trades above its calculated fair value: price $4.88, fair value $3.04, a gap of about −38% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KYTX?
No. The price is what the market pays today ($4.88); the fair value is what the company's own numbers justify ($3.04). For Kyverna Therapeutics, Inc. the two are $1.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kyverna Therapeutics, Inc. Common Stock worth?
The market values Kyverna Therapeutics, Inc. at about $297M (market capitalisation, as of Nov 8, 2026). Per share that is $4.88; our models calculate a fair value of $3.04 per share.
What do the bullish and bearish scenarios say about KYTX?
Our models span a range for Kyverna Therapeutics, Inc.: cautious scenario $2.01, base $3.04, optimistic $3.81 per share (as of Nov 8, 2026, price $4.88). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kyverna Therapeutics, Inc. (KYTX)?
Balance-sheet figures for Kyverna Therapeutics, Inc. (as of Nov 8, 2026): return on equity −87.2%. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
How far is KYTX from its 52-week high?
Kyverna Therapeutics, Inc. trades at $4.88, about 57% below its 52-week high of $11.25 and 6% above the low of $4.61 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $3.04 is for.
Which stocks are comparable to Kyverna Therapeutics, Inc. Common Stock?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Kyverna Therapeutics, Inc. Common Stock stock attractive at the current price?
The data as of Nov 8, 2026: price $4.88, calculated fair value $3.04 (−38%), Quality Score 25/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KYTX calculated?
We run Kyverna Therapeutics, Inc. through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $3.04 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Kyverna Therapeutics, Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Kyverna Therapeutics, Inc. (KYTX)?
The closing price on Nov 6, 2026 was $4.88. Our model-based fair value is $3.04, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kyverna Therapeutics, Inc. Common Stock right now?
The price sits above even our optimistic bull case ($3.81). The favourable scenario is already priced in. Weak quality (25/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($2.01 to $3.81) leaves room in how you read the outcome.

Key figures of Kyverna Therapeutics, Inc.

How large is the market capitalisation of Kyverna Therapeutics, Inc. (KYTX)?
The market capitalisation of Kyverna Therapeutics, Inc. is $297M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Kyverna Therapeutics, Inc. (KYTX)?
Earnings per share at Kyverna Therapeutics, Inc. are $−2.93. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Kyverna Therapeutics, Inc. (KYTX)?
The return on equity (ROE) of Kyverna Therapeutics, Inc. is −87.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Kyverna Therapeutics, Inc. (KYTX)?
On an EBIT basis the return on assets of Kyverna Therapeutics, Inc. is −52.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Kyverna Therapeutics, Inc. (KYTX) generate?
The free cash flow of Kyverna Therapeutics, Inc. is −$154M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Kyverna Therapeutics, Inc. (KYTX) hold?
Kyverna Therapeutics, Inc. holds more cash than debt, $95.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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