Wells Fargo & Company Issues Positive Forecast for Kymera Therapeutics (NASDAQ:KYMR) Stock Price

Kymera Therapeutics (NASDAQ:KYMR) had its target price lifted by equities research analysts at Wells Fargo & Company from $116.00 to $151.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 22.39% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Bank of America raised their price objective on shares of Kymera Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada lowered shares of 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. Mizuho increased their price target on shares of Kymera Therapeutics from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Oppenheimer reissued an “outperform” rating and issued a $125.00 price target on shares of Kymera Therapeutics in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Kymera Therapeutics in a research report on Thursday, July 30th. They issued a “hold” rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

Kymera Therapeutics Stock Performance

Shares of KYMR stock opened at $123.37 on Thursday. The stock’s fifty day moving average is $111.63 and its 200-day moving average is $93.15. The stock has a market capitalization of $10.26 billion, a PE ratio of -38.22 and a beta of 1.95. Kymera Therapeutics has a 52 week low of $39.84 and a 52 week high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.09. The company had revenue of $65.00 million during the quarter, compared to analyst estimates of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The firm’s quarterly revenue was up 465.2% compared to the same quarter last year. During the same period last year, the company posted ($0.95) earnings per share. As a group, analysts forecast that Kymera Therapeutics will post -3.75 earnings per share for the current fiscal year.

Insider Activity

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $115.29, for a total value of $9,223,200.00. Following the completion of the sale, the chief executive officer owned 666,568 shares of the company’s stock, valued at approximately $76,848,624.72. This represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce Booth sold 467,878 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $110.29, for a total transaction of $51,602,264.62. Following the completion of the sale, the director owned 472,267 shares of the company’s stock, valued at approximately $52,086,327.43. This represents a 49.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,587,629 shares of company stock worth $386,183,782 in the last ninety days. Company insiders own 15.98% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

A number of large investors have recently added to or reduced their stakes in KYMR. GAMMA Investing LLC raised its position in shares of Kymera Therapeutics by 27.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $52,000 after purchasing an additional 98 shares during the period. US Bancorp DE raised its position in shares of Kymera Therapeutics by 9.8% in the third quarter. US Bancorp DE now owns 1,865 shares of the company’s stock valued at $106,000 after buying an additional 166 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Kymera Therapeutics by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 11,045 shares of the company’s stock valued at $1,267,000 after acquiring an additional 200 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Kymera Therapeutics by 3.6% in the first quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock valued at $565,000 after purchasing an additional 235 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Kymera Therapeutics by 7.5% during the 1st quarter. Cetera Investment Advisers now owns 3,602 shares of the company’s stock worth $300,000 after acquiring an additional 252 shares during the period.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.