Kymera Therapeutics (NASDAQ:KYMR) Given New $68.00 Price Target at Truist Financial

Kymera Therapeutics (NASDAQ:KYMR) had its price objective hoisted by Truist Financial from $53.00 to $68.00 in a research report released on Tuesday, MarketBeat Ratings reports. Truist Financial currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. B. Riley upgraded shares of Kymera Therapeutics to a “strong-buy” rating and set a $60.00 price objective for the company in a report on Wednesday, July 30th. HC Wainwright raised their price objective on shares of Kymera Therapeutics from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Jefferies Financial Group set a $64.00 price objective on shares of Kymera Therapeutics and gave the stock a “buy” rating in a report on Wednesday, June 25th. Wells Fargo & Company lowered their price target on shares of Kymera Therapeutics from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, June 26th. Finally, Wall Street Zen lowered shares of Kymera Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $60.74.

Kymera Therapeutics Stock Performance

NASDAQ KYMR opened at $56.60 on Tuesday. Kymera Therapeutics has a 52-week low of $19.44 and a 52-week high of $58.93. The company has a 50-day simple moving average of $45.06 and a 200 day simple moving average of $38.93. The company has a market capitalization of $4.05 billion, a PE ratio of -16.31 and a beta of 2.17.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.The company had revenue of $11.48 million for the quarter, compared to analysts’ expectations of $17.37 million. During the same quarter last year, the business posted ($0.58) EPS. The business’s quarterly revenue was down 55.1% on a year-over-year basis. As a group, analysts forecast that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In related news, CFO Bruce N. Jacobs sold 79,220 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $50.00, for a total transaction of $3,961,000.00. Following the completion of the transaction, the chief financial officer owned 227,409 shares of the company’s stock, valued at approximately $11,370,450. The trade was a 25.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the transaction, the chief executive officer directly owned 660,482 shares of the company’s stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.01% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds have recently bought and sold shares of KYMR. Ameriprise Financial Inc. purchased a new position in Kymera Therapeutics during the fourth quarter valued at approximately $344,000. California State Teachers Retirement System grew its stake in Kymera Therapeutics by 12.6% in the 4th quarter. California State Teachers Retirement System now owns 36,839 shares of the company’s stock worth $1,482,000 after buying an additional 4,131 shares in the last quarter. GAMMA Investing LLC grew its stake in Kymera Therapeutics by 3,851.5% in the 1st quarter. GAMMA Investing LLC now owns 6,678 shares of the company’s stock worth $183,000 after buying an additional 6,509 shares in the last quarter. Rhumbline Advisers grew its stake in Kymera Therapeutics by 9.0% in the 1st quarter. Rhumbline Advisers now owns 69,928 shares of the company’s stock worth $1,914,000 after buying an additional 5,771 shares in the last quarter. Finally, KBC Group NV grew its stake in Kymera Therapeutics by 15.2% in the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after buying an additional 328 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.