Kymera Therapeutics (NASDAQ:KYMR) Raised to Outperform at Wolfe Research

Wolfe Research upgraded shares of Kymera Therapeutics (NASDAQ:KYMR) from a peer perform rating to an outperform rating in a research note issued to investors on Monday morning, MarketBeat.com reports. They currently have $65.00 target price on the stock.

Several other equities analysts also recently weighed in on KYMR. HC Wainwright reiterated a buy rating and issued a $46.00 target price on shares of Kymera Therapeutics in a research note on Monday, June 17th. Wells Fargo & Company raised their price objective on Kymera Therapeutics from $30.00 to $38.00 and gave the company an equal weight rating in a research report on Monday, August 12th. Oppenheimer reiterated an outperform rating and set a $52.00 target price on shares of Kymera Therapeutics in a research note on Wednesday, July 10th. Morgan Stanley increased their target price on Kymera Therapeutics from $34.00 to $45.00 and gave the company an equal weight rating in a report on Wednesday, August 14th. Finally, B. Riley boosted their price objective on Kymera Therapeutics from $31.00 to $36.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $47.64.

Kymera Therapeutics Stock Down 0.6 %

NASDAQ:KYMR opened at $48.25 on Monday. Kymera Therapeutics has a twelve month low of $9.60 and a twelve month high of $50.19. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -19.22 and a beta of 2.22. The stock’s 50 day moving average price is $40.77 and its two-hundred day moving average price is $38.32.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.10. The business had revenue of $25.60 million for the quarter, compared to analyst estimates of $12.55 million. Kymera Therapeutics had a negative net margin of 194.67% and a negative return on equity of 31.92%. The firm’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.67) EPS. As a group, analysts anticipate that Kymera Therapeutics will post -2.86 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In related news, Director Joanna Horobin sold 8,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.99, for a total value of $280,415.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Bruce Booth sold 16,740 shares of Kymera Therapeutics stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $35.45, for a total transaction of $593,433.00. Following the completion of the transaction, the director now directly owns 803,792 shares of the company’s stock, valued at $28,494,426.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joanna Horobin sold 8,500 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $32.99, for a total value of $280,415.00. The disclosure for this sale can be found here. Insiders sold 507,345 shares of company stock worth $19,525,432 over the last 90 days. 15.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in shares of Kymera Therapeutics during the 4th quarter worth $78,000. Comerica Bank increased its stake in Kymera Therapeutics by 13.7% in the first quarter. Comerica Bank now owns 3,324 shares of the company’s stock valued at $134,000 after purchasing an additional 400 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Kymera Therapeutics by 7.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock worth $164,000 after buying an additional 295 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Kymera Therapeutics in the 2nd quarter worth about $139,000. Finally, Virtu Financial LLC purchased a new stake in Kymera Therapeutics in the 1st quarter valued at about $207,000.

About Kymera Therapeutics

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.