Kymera Therapeutics (NASDAQ:KYMR) Price Target Lowered to $53.00 at Wells Fargo & Company

Kymera Therapeutics (NASDAQ:KYMR) had its price objective lowered by Wells Fargo & Company from $57.00 to $53.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on KYMR. Wall Street Zen upgraded Kymera Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Jefferies Financial Group set a $64.00 price objective on Kymera Therapeutics and gave the company a “buy” rating in a research report on Wednesday. B. Riley upgraded shares of Kymera Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $38.00 to $60.00 in a report on Tuesday, June 3rd. Guggenheim reiterated a “buy” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a report on Tuesday, June 3rd. Finally, UBS Group dropped their price objective on shares of Kymera Therapeutics from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.78.

Kymera Therapeutics Stock Performance

Shares of NASDAQ KYMR opened at $45.71 on Thursday. Kymera Therapeutics has a 52-week low of $19.45 and a 52-week high of $53.27. The stock has a market cap of $2.98 billion, a P/E ratio of -14.75 and a beta of 2.07. The firm has a 50 day moving average price of $36.72 and a 200 day moving average price of $35.87.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.10. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. The company had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $11.38 million. During the same period last year, the firm posted ($0.69) earnings per share. The business’s quarterly revenue was up 114.6% compared to the same quarter last year. Analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the transaction, the chief executive officer now owns 660,482 shares in the company, valued at approximately $32,363,618. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,349 shares of company stock valued at $2,334,301. Insiders own 16.01% of the company’s stock.

Institutional Trading of Kymera Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in KYMR. Price T Rowe Associates Inc. MD increased its stake in shares of Kymera Therapeutics by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,870,333 shares of the company’s stock worth $276,395,000 after purchasing an additional 224,859 shares during the last quarter. Wellington Management Group LLP grew its holdings in Kymera Therapeutics by 13.0% during the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company’s stock worth $164,134,000 after purchasing an additional 689,547 shares during the period. Vanguard Group Inc. increased its position in Kymera Therapeutics by 7.0% during the first quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company’s stock worth $143,183,000 after buying an additional 344,080 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in Kymera Therapeutics by 14.4% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company’s stock valued at $207,184,000 after buying an additional 650,000 shares during the period. Finally, Siren L.L.C. raised its stake in Kymera Therapeutics by 9.1% in the first quarter. Siren L.L.C. now owns 3,240,313 shares of the company’s stock valued at $88,687,000 after buying an additional 270,580 shares during the period.

Kymera Therapeutics Company Profile

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.