Kymera Therapeutics (NASDAQ:KYMR) Given New $53.00 Price Target at Wells Fargo & Company

Kymera Therapeutics (NASDAQ:KYMR) had its target price cut by equities research analysts at Wells Fargo & Company from $57.00 to $53.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 20.13% from the stock’s current price.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. increased their price target on Kymera Therapeutics from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, June 3rd. Guggenheim restated a “buy” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Kymera Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Citigroup assumed coverage on Kymera Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group set a $64.00 price objective on Kymera Therapeutics and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.61.

Kymera Therapeutics Trading Down 3.5%

NASDAQ KYMR opened at $44.12 on Thursday. The firm has a market capitalization of $2.87 billion, a P/E ratio of -14.23 and a beta of 2.07. The business has a fifty day simple moving average of $37.08 and a 200 day simple moving average of $35.87. Kymera Therapeutics has a 12 month low of $19.45 and a 12 month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.10. The business had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. Kymera Therapeutics’s quarterly revenue was up 114.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.69) EPS. As a group, sell-side analysts predict that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Transactions at Kymera Therapeutics

In other news, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the completion of the transaction, the chief executive officer now owns 660,482 shares in the company, valued at approximately $32,363,618. This represents a 4.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 6,349 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $311,101.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,349 shares of company stock worth $2,334,301. 16.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted its stake in Kymera Therapeutics by 15.2% in the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after purchasing an additional 328 shares during the period. Summit Investment Advisors Inc. boosted its stake in Kymera Therapeutics by 9.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company’s stock worth $198,000 after purchasing an additional 406 shares during the period. Comerica Bank boosted its stake in Kymera Therapeutics by 3.6% in the 1st quarter. Comerica Bank now owns 21,374 shares of the company’s stock worth $585,000 after purchasing an additional 743 shares during the period. Hsbc Holdings PLC boosted its stake in Kymera Therapeutics by 6.1% in the 1st quarter. Hsbc Holdings PLC now owns 18,547 shares of the company’s stock worth $508,000 after purchasing an additional 1,064 shares during the period. Finally, State of Wyoming bought a new position in Kymera Therapeutics in the 4th quarter worth about $45,000.

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.