Kymera Therapeutics (NASDAQ:KYMR) Lifted to Outperform at Wolfe Research

Wolfe Research upgraded shares of Kymera Therapeutics (NASDAQ:KYMR) from a peer perform rating to an outperform rating in a research report report published on Monday morning, MarketBeat reports. The brokerage currently has $65.00 price objective on the stock.

Several other research firms also recently weighed in on KYMR. Morgan Stanley lifted their target price on Kymera Therapeutics from $34.00 to $45.00 and gave the stock an equal weight rating in a research report on Wednesday, August 14th. Wells Fargo & Company boosted their price objective on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the company an equal weight rating in a research report on Monday, August 12th. B. Riley raised their target price on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the stock a neutral rating in a research report on Tuesday, July 9th. HC Wainwright reiterated a buy rating and issued a $46.00 price target on shares of Kymera Therapeutics in a report on Monday, June 17th. Finally, Oppenheimer restated an outperform rating and set a $52.00 price objective on shares of Kymera Therapeutics in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Kymera Therapeutics presently has a consensus rating of Moderate Buy and a consensus target price of $47.64.

Kymera Therapeutics Trading Down 0.9 %

KYMR stock opened at $48.52 on Monday. The stock has a market cap of $2.98 billion, a PE ratio of -19.33 and a beta of 2.22. Kymera Therapeutics has a 12 month low of $9.60 and a 12 month high of $50.19. The company has a 50-day moving average price of $40.09 and a 200 day moving average price of $38.18.

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

Insider Buying and Selling

In other Kymera Therapeutics news, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.10, for a total value of $245,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.10, for a total transaction of $245,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce Booth sold 453,960 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $38.21, for a total transaction of $17,345,811.60. Following the completion of the sale, the director now owns 723,246 shares of the company’s stock, valued at $27,635,229.66. The disclosure for this sale can be found here. Insiders sold 507,345 shares of company stock worth $19,525,432 in the last three months. 15.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KYMR. Algert Global LLC grew its stake in shares of Kymera Therapeutics by 16.5% during the second quarter. Algert Global LLC now owns 32,706 shares of the company’s stock worth $976,000 after acquiring an additional 4,622 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Kymera Therapeutics in the 2nd quarter worth approximately $6,669,000. Susquehanna Fundamental Investments LLC grew its position in Kymera Therapeutics by 7.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 76,818 shares of the company’s stock worth $2,293,000 after purchasing an additional 5,325 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Kymera Therapeutics by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 130,077 shares of the company’s stock worth $3,883,000 after purchasing an additional 15,320 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in Kymera Therapeutics by 27.3% during the 2nd quarter. Squarepoint Ops LLC now owns 108,563 shares of the company’s stock valued at $3,241,000 after purchasing an additional 23,312 shares in the last quarter.

Kymera Therapeutics Company Profile

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.