Wells Fargo & Company Forecasts Strong Price Appreciation for Kymera Therapeutics (NASDAQ:KYMR) Stock

Kymera Therapeutics (NASDAQ:KYMR) had its price target upped by equities research analysts at Wells Fargo & Company from $53.00 to $69.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 19.69% from the company’s previous close.

KYMR has been the subject of several other research reports. Mizuho began coverage on Kymera Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $81.00 target price for the company. Barclays restated an “overweight” rating and issued a $70.00 target price on shares of Kymera Therapeutics in a research note on Wednesday. Citigroup boosted their target price on Kymera Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Kymera Therapeutics in a research note on Wednesday, October 8th. Finally, Guggenheim assumed coverage on Kymera Therapeutics in a research note on Monday. They issued a “buy” rating and a $90.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.75.

Kymera Therapeutics Stock Down 3.8%

Shares of Kymera Therapeutics stock traded down $2.26 during midday trading on Wednesday, hitting $57.65. The company’s stock had a trading volume of 52,287 shares, compared to its average volume of 744,086. The firm has a market capitalization of $4.12 billion, a P/E ratio of -16.75 and a beta of 2.32. The stock has a 50-day simple moving average of $53.10 and a 200-day simple moving average of $44.66. Kymera Therapeutics has a 1-year low of $19.44 and a 1-year high of $63.96.

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

Insiders Place Their Bets

In related news, insider Jared Gollob sold 59,576 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $61.42, for a total transaction of $3,659,157.92. Following the transaction, the insider directly owned 109,992 shares in the company, valued at $6,755,708.64. The trade was a 35.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Bruce N. Jacobs sold 79,220 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $50.00, for a total value of $3,961,000.00. Following the transaction, the chief financial officer owned 227,409 shares in the company, valued at $11,370,450. This represents a 25.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 206,910 shares of company stock worth $11,402,648 over the last quarter. 16.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in shares of Kymera Therapeutics by 642.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock valued at $27,000 after purchasing an additional 540 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Kymera Therapeutics by 506.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock valued at $40,000 after purchasing an additional 770 shares during the period. Bessemer Group Inc. grew its stake in shares of Kymera Therapeutics by 652.0% in the 3rd quarter. Bessemer Group Inc. now owns 940 shares of the company’s stock valued at $53,000 after purchasing an additional 815 shares during the period. Osaic Holdings Inc. grew its stake in shares of Kymera Therapeutics by 18,050.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock valued at $48,000 after purchasing an additional 1,083 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Kymera Therapeutics in the 2nd quarter valued at approximately $73,000.

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.