Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $49.00 at Morgan Stanley

Kymera Therapeutics (NASDAQ:KYMR) had its target price raised by Morgan Stanley from $45.00 to $49.00 in a research note issued to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on KYMR. B. Riley upped their price objective on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. UBS Group dropped their price target on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company increased their price target on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Truist Financial reissued a “buy” rating and set a $53.00 price target (down from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Finally, Oppenheimer lifted their target price on shares of Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Kymera Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $51.21.

Kymera Therapeutics Stock Performance

Shares of NASDAQ KYMR traded down $0.16 during midday trading on Wednesday, reaching $49.32. 19,477 shares of the company’s stock were exchanged, compared to its average volume of 592,594. The stock has a market capitalization of $3.19 billion, a PE ratio of -21.15 and a beta of 2.21. Kymera Therapeutics has a 52-week low of $13.85 and a 52-week high of $53.27. The business’s fifty day moving average price is $46.96 and its two-hundred day moving average price is $40.93.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.01. The firm had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $10.34 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.90) earnings per share. Analysts predict that Kymera Therapeutics will post -2.83 earnings per share for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of Kymera Therapeutics stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total transaction of $651,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Pamela Esposito sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total value of $651,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.10, for a total transaction of $245,500.00. The disclosure for this sale can be found here. 15.82% of the stock is owned by corporate insiders.

Institutional Trading of Kymera Therapeutics

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Kymera Therapeutics by 18.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company’s stock worth $254,548,000 after acquiring an additional 996,300 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Kymera Therapeutics by 19.2% in the first quarter. Vanguard Group Inc. now owns 4,767,050 shares of the company’s stock valued at $191,635,000 after acquiring an additional 769,486 shares in the last quarter. Artal Group S.A. grew its stake in Kymera Therapeutics by 19.6% in the first quarter. Artal Group S.A. now owns 3,027,135 shares of the company’s stock valued at $121,691,000 after purchasing an additional 496,400 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Kymera Therapeutics in the second quarter valued at approximately $6,669,000. Finally, Renaissance Technologies LLC purchased a new stake in Kymera Therapeutics in the second quarter valued at approximately $4,271,000.

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.