Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $151.00

Kymera Therapeutics (NASDAQ:KYMR) had its price objective raised by Wells Fargo & Company from $116.00 to $151.00 in a research note released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Kymera Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Bank of America boosted their target price on shares of Kymera Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Brookline Capital Markets reissued a “buy” rating on shares of Kymera Therapeutics in a research report on Monday, June 8th. Truist Financial raised their price target on shares of Kymera Therapeutics from $116.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $135.00 price target on shares of Kymera Therapeutics in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

Kymera Therapeutics Trading Down 1.7%

KYMR stock opened at $118.15 on Thursday. The stock has a market cap of $9.82 billion, a P/E ratio of -36.47 and a beta of 1.95. The stock’s fifty day simple moving average is $112.78 and its two-hundred day simple moving average is $93.61. Kymera Therapeutics has a 1-year low of $39.84 and a 1-year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.09. The firm had revenue of $65.00 million during the quarter, compared to analyst estimates of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The business’s revenue was up 465.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.95) EPS. As a group, analysts forecast that Kymera Therapeutics will post -3.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Bvf Partners L. P/Il sold 1,578,800 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $106.50, for a total value of $168,142,200.00. Following the completion of the transaction, the director directly owned 240,123 shares of the company’s stock, valued at $25,573,099.50. This trade represents a 86.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bruce N. Jacobs sold 77,109 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total value of $8,864,450.64. Following the sale, the chief financial officer owned 244,883 shares in the company, valued at approximately $28,151,749.68. The trade was a 23.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,587,629 shares of company stock valued at $386,183,782 over the last three months. Insiders own 15.98% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Merck & Co. Inc. bought a new stake in Kymera Therapeutics during the second quarter valued at $88,544,161. Deutsche Bank AG purchased a new position in Kymera Therapeutics during the second quarter worth about $12,161,000. Eagle Health Investments LP bought a new position in Kymera Therapeutics in the 2nd quarter worth about $19,052,000. BlackRock Inc. bought a new position in Kymera Therapeutics in the 2nd quarter worth about $635,067,000. Finally, Vanguard Group Inc. increased its stake in Kymera Therapeutics by 15.6% in the 4th quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company’s stock worth $487,685,000 after acquiring an additional 845,922 shares during the last quarter.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.