Wells Fargo & Company Raises Kymera Therapeutics (NASDAQ:KYMR) Price Target to $38.00

Kymera Therapeutics (NASDAQ:KYMR) had its target price boosted by Wells Fargo & Company from $30.00 to $38.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 10.04% from the company’s previous close.

A number of other brokerages have also recently weighed in on KYMR. Oppenheimer reissued an “outperform” rating and issued a $52.00 price target on shares of Kymera Therapeutics in a research report on Wednesday, July 10th. B. Riley boosted their target price on Kymera Therapeutics from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, HC Wainwright restated a “buy” rating and set a $46.00 price target on shares of Kymera Therapeutics in a research note on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.80.

Kymera Therapeutics Price Performance

Shares of KYMR traded up $0.80 during mid-day trading on Monday, reaching $42.24. The company’s stock had a trading volume of 140,788 shares, compared to its average volume of 665,317. Kymera Therapeutics has a 12-month low of $9.60 and a 12-month high of $48.70. The stock has a market cap of $2.59 billion, a PE ratio of -16.95 and a beta of 2.22. The company’s 50 day moving average is $37.09 and its 200 day moving average is $37.14.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.10. The company had revenue of $25.60 million for the quarter, compared to analyst estimates of $12.55 million. Kymera Therapeutics had a negative net margin of 194.67% and a negative return on equity of 31.92%. The firm’s revenue was up 55.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.67) earnings per share. As a group, sell-side analysts anticipate that Kymera Therapeutics will post -2.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Joanna Horobin sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $32.99, for a total value of $280,415.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Bruce Booth sold 16,740 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $35.45, for a total transaction of $593,433.00. Following the completion of the transaction, the director now directly owns 803,792 shares of the company’s stock, valued at approximately $28,494,426.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joanna Horobin sold 8,500 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.99, for a total value of $280,415.00. The disclosure for this sale can be found here. Insiders have sold a total of 502,345 shares of company stock valued at $19,279,932 over the last quarter. Corporate insiders own 15.82% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kymera Therapeutics by 18.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company’s stock valued at $254,548,000 after acquiring an additional 996,300 shares in the last quarter. Vanguard Group Inc. grew its stake 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 buying an additional 769,486 shares in the last quarter. Norges Bank purchased a new position in Kymera Therapeutics in the 4th quarter worth approximately $12,834,000. Artal Group S.A. grew its position 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 acquiring an additional 496,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Kymera Therapeutics by 229.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 674,655 shares of the company’s stock valued at $17,177,000 after purchasing an additional 469,947 shares during the period.

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.