Morgan Stanley Initiates Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Research analysts at Morgan Stanley began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $70.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 56.22% from the stock’s current price.

KYMR has been the topic of a number of other reports. B. Riley raised shares of Kymera Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $38.00 to $60.00 in a research note on Tuesday, June 3rd. Wells Fargo & Company lowered their price objective on shares of Kymera Therapeutics from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, June 26th. Citigroup assumed coverage on shares of Kymera Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 price objective (up from $54.00) on shares of Kymera Therapeutics in a research note on Thursday, June 26th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.11.

Kymera Therapeutics Stock Up 0.6%

Shares of NASDAQ KYMR opened at $44.81 on Thursday. Kymera Therapeutics has a 52 week low of $19.45 and a 52 week high of $53.27. The firm has a 50-day moving average price of $38.46 and a 200 day moving average price of $35.92. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -14.45 and a beta of 2.18.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.10. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. The firm had revenue of $22.10 million during the quarter, compared to analysts’ expectations of $11.38 million. During the same quarter last year, the business earned ($0.69) earnings per share. The business’s revenue for the quarter was up 114.6% compared to the same quarter last year. Equities research analysts expect that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Elena Ridloff sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $46.10, for a total transaction of $553,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bvf Partners L. P/Il acquired 317,167 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $44.00 per share, for a total transaction of $13,955,348.00. Following the completion of the acquisition, the director owned 2,798,795 shares in the company, valued at approximately $123,146,980. This trade represents a 12.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 over the last three months. Company insiders own 16.01% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State of Wyoming purchased a new position in shares of Kymera Therapeutics during the 4th quarter worth about $45,000. GF Fund Management CO. LTD. purchased a new position in shares of Kymera Therapeutics during the 4th quarter worth about $55,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Kymera Therapeutics during the 1st quarter worth about $68,000. KBC Group NV lifted its holdings in shares of Kymera Therapeutics by 15.2% during the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after acquiring an additional 328 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Kymera Therapeutics by 95.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,812 shares of the company’s stock worth $194,000 after acquiring an additional 2,350 shares during the period.

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.