Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $56.00

Kymera Therapeutics (NASDAQ:KYMR) had its price objective boosted by Oppenheimer from $52.00 to $56.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

KYMR has been the topic of a number of other reports. Wells Fargo & Company upped their target price on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the company an equal weight rating in a report on Monday, August 12th. Wolfe Research upgraded shares of Kymera Therapeutics from a peer perform rating to an outperform rating and set a $65.00 target price on the stock in a report on Monday, August 26th. Leerink Partners restated an outperform rating and issued a $60.00 target price on shares of Kymera Therapeutics in a report on Monday, September 9th. B. Riley upped their target price 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, Morgan Stanley upped their target price on shares of Kymera Therapeutics from $34.00 to $45.00 and gave the company an equal weight rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kymera Therapeutics currently has an average rating of Moderate Buy and an average target price of $49.00.

Kymera Therapeutics Stock Down 1.6 %

Kymera Therapeutics stock opened at $48.69 on Friday. Kymera Therapeutics has a 52 week low of $9.60 and a 52 week high of $53.27. The firm’s 50-day simple moving average is $45.79 and its 200 day simple moving average is $39.33. The firm has a market capitalization of $2.99 billion, a PE ratio of -19.40 and a beta of 2.22.

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

Insider Activity

In related news, insider Jared Gollob sold 23,145 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $45.81, for a total transaction of $1,060,272.45. Following the completion of the sale, the insider now owns 95,470 shares of the company’s stock, valued at approximately $4,373,480.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jared Gollob sold 23,145 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $45.81, for a total transaction of $1,060,272.45. Following the completion of the sale, the insider now owns 95,470 shares of the company’s stock, valued at approximately $4,373,480.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela Esposito sold 13,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total transaction of $651,780.00. The disclosure for this sale can be found here. Insiders sold a total of 495,605 shares of company stock valued at $19,303,364 in the last 90 days. 15.82% of the stock is currently owned by insiders.

Institutional Trading of Kymera Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of KYMR. Comerica Bank grew its position 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 acquiring an additional 400 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Kymera Therapeutics in the second quarter valued at approximately $139,000. Quest Partners LLC grew its position in Kymera Therapeutics by 1,402.0% in the second quarter. Quest Partners LLC now owns 5,212 shares of the company’s stock valued at $156,000 after acquiring an additional 4,865 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Kymera Therapeutics by 7.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock valued at $164,000 after acquiring an additional 295 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Kymera Therapeutics in the second quarter valued at approximately $201,000.

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.