Kymera Therapeutics (NASDAQ:KYMR) Stock Price Target Raised at Morgan Stanley

Kymera Therapeutics (NASDAQ:KYMR) had its target price lifted by research analysts at Morgan Stanley from $135.00 to $146.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley‘s price objective indicates a potential upside of 27.13% from the stock’s previous close.

A number of other analysts have also commented on KYMR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Thursday, October 15th. Barclays increased their price target on Kymera Therapeutics from $133.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wells Fargo & Company raised their price objective on Kymera Therapeutics from $116.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Citigroup boosted their price objective on Kymera Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, October 5th. Finally, Royal Bank Of Canada lowered Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $106.00 to $115.00 in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.12.

Kymera Therapeutics Trading Up 3.7%

NASDAQ:KYMR opened at $114.84 on Tuesday. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of -35.44 and a beta of 1.98. The firm has a fifty day simple moving average of $114.98 and a two-hundred day simple moving average of $95.40. Kymera Therapeutics has a 12 month low of $55.66 and a 12 month high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.09. The firm had revenue of $65.00 million for the quarter, compared to analyst estimates of $32.78 million. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The business’s quarterly revenue was up 465.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.95) earnings per share. Equities analysts predict that Kymera Therapeutics will post -3.85 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Adams sold 6,371 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $116.83, for a total transaction of $744,323.93. Following the completion of the sale, the insider directly owned 50,254 shares of the company’s stock, valued at $5,871,174.82. The trade was a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the completion of the sale, the chief executive officer owned 666,568 shares in the company, valued at $75,855,438.40. This represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 15.98% of the company’s stock.

Institutional Trading of Kymera Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Kymera Therapeutics in the second quarter worth approximately $635,067,000. Merck & Co. Inc. bought a new stake in Kymera Therapeutics during the second quarter worth $88,544,161. Bank of America Corp DE bought a new stake in Kymera Therapeutics during the second quarter worth $43,378,000. Braidwell LP grew its holdings in Kymera Therapeutics by 12.0% during the second quarter. Braidwell LP now owns 378,163 shares of the company’s stock worth $43,364,000 after buying an additional 40,604 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Kymera Therapeutics by 2.5% in the 1st quarter. Jennison Associates LLC now owns 508,999 shares of the company’s stock valued at $42,395,000 after buying an additional 12,334 shares during the last quarter.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins through targeted protein degradation. Its approach is designed to use the cell’s natural protein-disposal system to remove proteins that may be difficult to address with conventional drug modalities.

The company’s research and development programs have targeted a range of disease areas, including immune-mediated and inflammatory conditions, cancer, and other serious illnesses.