Bank of America Has Lowered Expectations for Kymera Therapeutics (NASDAQ:KYMR) Stock Price

Kymera Therapeutics (NASDAQ:KYMR) had its target price lowered by investment analysts at Bank of America from $47.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 41.30% from the stock’s current price.

Several other analysts have also recently commented on the company. HC Wainwright lifted their price target on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 28th. Guggenheim reiterated a “buy” rating and set a $52.00 target price on shares of Kymera Therapeutics in a report on Monday. Citigroup assumed coverage on Kymera Therapeutics in a report on Thursday, March 13th. They set a “buy” rating and a $52.00 target price for the company. Finally, Stephens reiterated an “overweight” rating and set a $60.00 target price on shares of Kymera Therapeutics in a report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.27.

Kymera Therapeutics Price Performance

KYMR opened at $31.14 on Monday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -13.31 and a beta of 2.18. The business has a 50-day moving average of $29.55 and a two-hundred day moving average of $37.36. Kymera Therapeutics has a 12 month low of $19.45 and a 12 month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.10. The company had revenue of $22.10 million during the quarter, compared to analysts’ expectations of $11.38 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm’s revenue was up 114.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.69) EPS. Equities research analysts anticipate that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In other Kymera Therapeutics news, insider Ellen Chiniara sold 2,241 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $68,238.45. Following the completion of the transaction, the insider now owns 80,085 shares in the company, valued at $2,438,588.25. This represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeremy G. Chadwick sold 1,383 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $42,112.35. Following the completion of the transaction, the chief operating officer now owns 67,800 shares of the company’s stock, valued at approximately $2,064,510. This represents a 2.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,659 shares of company stock worth $324,567 in the last 90 days. 15.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in Kymera Therapeutics by 74.8% in the 4th quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after acquiring an additional 270 shares during the period. State of Wyoming acquired a new position in shares of Kymera Therapeutics in the 4th quarter valued at approximately $45,000. GF Fund Management CO. LTD. acquired a new position in shares of Kymera Therapeutics in the 4th quarter valued at approximately $55,000. KBC Group NV raised its position in shares of Kymera Therapeutics by 15.2% in the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock valued at $68,000 after purchasing an additional 328 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Kymera Therapeutics in the 1st quarter valued at approximately $68,000.

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.