Kymera Therapeutics (NASDAQ:KYMR) Stock Gets Price Target Boost from Morgan Stanley

Kymera Therapeutics (NASDAQ:KYMR) had its target price raised by stock analysts at Morgan Stanley from $135.00 to $146.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley‘s price target would indicate a potential upside of 27.13% from the company’s previous close.

A number of other equities analysts also recently weighed in on KYMR. Barclays boosted their target price on Kymera Therapeutics from $133.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Mizuho upped their target price on Kymera Therapeutics from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft started coverage on Kymera Therapeutics in a research report on Thursday, July 30th. They set a “hold” rating and a $120.00 price target for the company. Bank of America lifted their price target on Kymera Therapeutics from $123.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Finally, Raymond James Financial started coverage on Kymera Therapeutics in a report on Thursday, October 8th. They set an “outperform” rating and a $140.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.12.

Kymera Therapeutics Stock Performance

Kymera Therapeutics stock opened at $114.84 on Tuesday. Kymera Therapeutics has a fifty-two week low of $55.66 and a fifty-two week high of $130.05. The stock has a market cap of $9.55 billion, a PE ratio of -35.44 and a beta of 1.98. The firm’s 50-day simple moving average is $114.98 and its 200 day simple moving average is $95.40.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) 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 net margin of 285.33% and a negative return on equity of 21.22%. The company’s revenue for the quarter was up 465.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.95) EPS. As a group, analysts predict that Kymera Therapeutics will post -3.85 EPS for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the sale, the chief executive officer owned 666,568 shares in the company, valued at $75,855,438.40. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Adams sold 6,371 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $116.83, for a total value of $744,323.93. Following the sale, the insider owned 50,254 shares in the company, valued at approximately $5,871,174.82. This represents a 11.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 15.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds have recently made changes to their positions in KYMR. GAMMA Investing LLC raised its stake in shares of Kymera Therapeutics by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $52,000 after purchasing an additional 98 shares during the period. IFP Advisors Inc boosted its stake in Kymera Therapeutics by 236.5% in the 3rd quarter. IFP Advisors Inc now owns 737 shares of the company’s stock worth $82,000 after purchasing an additional 518 shares during the period. PNC Financial Services Group Inc. boosted its stake in Kymera Therapeutics by 56.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,285 shares of the company’s stock worth $107,000 after purchasing an additional 463 shares during the period. Empowered Funds LLC bought a new position in Kymera Therapeutics in the 1st quarter worth about $203,000. Finally, Nykredit A S purchased a new position in Kymera Therapeutics during the 2nd quarter valued at about $207,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins through targeted protein degradation. Its approach is designed to use the cell’s natural protein-disposal system to remove proteins that may be difficult to address with conventional drug modalities.

The company’s research and development programs have targeted a range of disease areas, including immune-mediated and inflammatory conditions, cancer, and other serious illnesses.