Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $170.00

Kymera Therapeutics (NASDAQ:KYMR) had its target price boosted by Barclays from $139.00 to $170.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer reiterated an “outperform” rating and set a $140.00 price target on shares of Kymera Therapeutics in a report on Thursday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Kymera Therapeutics in a report on Thursday, October 15th. Bank of America upped their price objective on Kymera Therapeutics from $123.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Wall Street Zen cut Kymera Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Wells Fargo & Company increased their target price on Kymera Therapeutics from $116.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kymera Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $139.16.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock opened at $136.30 on Monday. Kymera Therapeutics has a 1 year low of $56.75 and a 1 year high of $136.57. The firm’s 50-day moving average is $115.40 and its 200 day moving average is $97.20. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of -37.65 and a beta of 2.04.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.06). The firm had revenue of $1.35 million for the quarter, compared to the consensus estimate of $3.28 million. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 22.39%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.94) earnings per share. On average, equities analysts expect that Kymera Therapeutics will post -3.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $113.80, for a total value of $3,414,000.00. Following the transaction, the chief executive officer directly owned 666,568 shares of the company’s stock, valued at approximately $75,855,438.40. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $744,323.93. Following the sale, the insider owned 50,254 shares of the company’s stock, valued at approximately $5,871,174.82. This represents a 11.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 15.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Kymera Therapeutics during the second quarter valued at about $635,067,000. Merck & Co. Inc. purchased a new stake in Kymera Therapeutics in the second quarter worth about $88,544,161. Bank of America Corp DE bought a new position in shares of Kymera Therapeutics in the second quarter worth about $43,378,000. Bank of New York Mellon Corp bought a new position in shares of Kymera Therapeutics in the second quarter worth about $24,721,000. Finally, Eagle Health Investments LP bought a new position in shares of Kymera Therapeutics in the second quarter worth about $19,052,000.

About Kymera Therapeutics

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.