JPMorgan Chase & Co. Issues Positive Forecast for Kymera Therapeutics (NASDAQ:KYMR) Stock Price

Kymera Therapeutics (NASDAQ:KYMR) had its price objective hoisted by JPMorgan Chase & Co. from $57.00 to $64.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on KYMR. B. Riley upgraded Kymera Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $38.00 to $60.00 in a research note on Tuesday. Wall Street Zen upgraded Kymera Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. UBS Group dropped their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Guggenheim reiterated a “buy” rating and set a $52.00 target price on shares of Kymera Therapeutics in a research note on Monday, May 12th. Finally, Morgan Stanley upgraded Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $49.00 to $79.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $59.35.

Kymera Therapeutics Stock Performance

KYMR opened at $43.58 on Tuesday. Kymera Therapeutics has a 52-week low of $19.45 and a 52-week high of $53.27. The firm has a market capitalization of $2.84 billion, a PE ratio of -18.62 and a beta of 2.18. The business’s 50-day simple moving average is $29.11 and its 200 day simple moving average is $35.65.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.10. The firm had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The business’s revenue for the quarter was up 114.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.69) earnings per share. On average, research analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey W. Albers sold 6,349 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $311,101.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elena Ridloff sold 12,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total value of $553,200.00. The disclosure for this sale can be found here. Insiders have sold 48,349 shares of company stock valued at $2,334,301 over the last 90 days. 16.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of large investors have recently added to or reduced their stakes in KYMR. Blue Trust Inc. boosted its holdings in shares of Kymera Therapeutics by 74.8% in the 4th quarter. Blue Trust Inc. now owns 631 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. KBC Group NV boosted its holdings in shares of Kymera Therapeutics by 53.8% in the 4th quarter. KBC Group NV now owns 2,151 shares of the company’s stock valued at $87,000 after purchasing an additional 752 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Kymera Therapeutics by 3.0% in the 4th quarter. Rhumbline Advisers now owns 64,157 shares of the company’s stock valued at $2,581,000 after purchasing an additional 1,861 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Kymera Therapeutics by 4.5% in the 4th quarter. Bank of New York Mellon Corp now owns 127,093 shares of the company’s stock valued at $5,113,000 after purchasing an additional 5,448 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Kymera Therapeutics by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company’s stock valued at $15,577,000 after purchasing an additional 20,346 shares in the last quarter.

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.