Kymera Therapeutics (NASDAQ:KYMR) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Kymera Therapeutics (NASDAQ:KYMR) from an equal weight rating to an overweight rating in a research note released on Monday, Marketbeat Ratings reports. Wells Fargo & Company currently has $57.00 target price on the stock, up from their prior target price of $38.00.

KYMR has been the subject of several other research reports. Leerink Partners restated an “outperform” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research report on Monday, September 9th. Morgan Stanley lifted their price target on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Truist Financial reiterated a “buy” rating and set a $53.00 price target (down previously from $54.00) on shares of Kymera Therapeutics in a research report on Friday, November 1st. Wolfe Research raised shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Monday, August 26th. Finally, Leerink Partnrs raised shares of Kymera Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Kymera Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $53.40.

Kymera Therapeutics Stock Down 1.9 %

Shares of KYMR stock opened at $46.02 on Monday. Kymera Therapeutics has a 12-month low of $20.46 and a 12-month high of $53.27. The company has a market capitalization of $2.98 billion, a P/E ratio of -19.67 and a beta of 2.16. The firm has a 50-day moving average price of $46.55 and a 200 day moving average price of $42.45.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.01. The firm had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The company’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.90) EPS. As a group, research analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In other news, Director Pamela Esposito sold 13,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total value of $651,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KYMR. FMR LLC increased its stake in shares of Kymera Therapeutics by 5.8% in the third quarter. FMR LLC now owns 5,109,141 shares of the company’s stock valued at $241,816,000 after buying an additional 282,301 shares during the period. Wellington Management Group LLP increased its stake in shares of Kymera Therapeutics by 7.2% in the third quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock valued at $218,587,000 after buying an additional 308,954 shares during the period. Jennison Associates LLC increased its stake in shares of Kymera Therapeutics by 85.8% in the third quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock valued at $37,754,000 after buying an additional 368,394 shares during the period. Eventide Asset Management LLC increased its stake in shares of Kymera Therapeutics by 9.9% in the third quarter. Eventide Asset Management LLC now owns 507,902 shares of the company’s stock valued at $24,039,000 after buying an additional 45,803 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Kymera Therapeutics by 11.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 453,377 shares of the company’s stock valued at $21,458,000 after buying an additional 47,507 shares during the period.

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.