Kymera Therapeutics (NASDAQ:KYMR) PT Raised to $56.00

Kymera Therapeutics (NASDAQ:KYMR) had its price target increased by Oppenheimer from $52.00 to $56.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also commented on KYMR. Morgan Stanley boosted their price objective on Kymera Therapeutics from $34.00 to $45.00 and gave the stock an equal weight rating in a research note on Wednesday, August 14th. Leerink Partnrs upgraded shares of Kymera Therapeutics to a strong-buy rating in a research report on Monday, September 9th. Wells Fargo & Company upped their target price on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the stock an equal weight rating in a research report on Monday, August 12th. B. Riley raised their price target on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the company a neutral rating in a report on Tuesday, July 9th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $49.00.

Kymera Therapeutics Stock Down 2.8 %

Shares of Kymera Therapeutics stock opened at $47.33 on Friday. Kymera Therapeutics has a 12-month low of $9.60 and a 12-month high of $53.27. The stock has a market capitalization of $2.90 billion, a P/E ratio of -18.86 and a beta of 2.22. The company has a 50-day simple moving average of $45.89 and a 200 day simple moving average of $39.38.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.10. The company had revenue of $25.60 million during the quarter, compared to analyst estimates of $12.55 million. Kymera Therapeutics had a negative net margin of 178.27% and a negative return on equity of 28.88%. The company’s revenue was up 55.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.67) earnings per share. On average, equities analysts anticipate that Kymera Therapeutics will post -2.87 earnings per share for the current year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Bruce Booth sold 453,960 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $38.21, for a total transaction of $17,345,811.60. Following the transaction, the director now owns 723,246 shares in the company, valued at $27,635,229.66. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Kymera Therapeutics news, Director Bruce Booth sold 453,960 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $38.21, for a total value of $17,345,811.60. Following the sale, the director now directly owns 723,246 shares in the company, valued at $27,635,229.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.10, for a total transaction of $245,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 495,605 shares of company stock worth $19,303,364. 15.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kymera Therapeutics by 18.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company’s stock valued at $254,548,000 after purchasing an additional 996,300 shares in the last quarter. BVF Inc. IL lifted its stake in Kymera Therapeutics by 8.9% in the fourth quarter. BVF Inc. IL now owns 5,161,801 shares of the company’s stock valued at $131,419,000 after buying an additional 422,797 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kymera Therapeutics by 19.2% in the first quarter. Vanguard Group Inc. now owns 4,767,050 shares of the company’s stock valued at $191,635,000 after buying an additional 769,486 shares during the period. Avoro Capital Advisors LLC increased its position in shares of Kymera Therapeutics by 3.0% during the first quarter. Avoro Capital Advisors LLC now owns 3,888,888 shares of the company’s stock worth $156,333,000 after acquiring an additional 113,888 shares in the last quarter. Finally, Artal Group S.A. raised its holdings in shares of Kymera Therapeutics by 19.6% during the first quarter. Artal Group S.A. now owns 3,027,135 shares of the company’s stock worth $121,691,000 after acquiring an additional 496,400 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.