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

Kymera Therapeutics (NASDAQ:KYMR) had its price objective increased by investment analysts at Barclays from $139.00 to $170.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 33.32% from the stock’s previous close.

Several other analysts have also recently issued reports on KYMR. Deutsche Bank Aktiengesellschaft began coverage on Kymera Therapeutics in a research note on Thursday, July 30th. They set a “hold” rating and a $120.00 price objective on the stock. Citigroup lifted their target price on Kymera Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Mizuho boosted their price target on Kymera Therapeutics from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Morgan Stanley upped their price target on Kymera Therapeutics from $135.00 to $146.00 and gave the company an “overweight” rating in a research report on Tuesday, October 27th. Finally, Wall Street Zen cut Kymera Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.16.

Kymera Therapeutics Price Performance

KYMR traded up $0.88 during trading on Monday, hitting $127.51. The company had a trading volume of 1,293,903 shares, compared to its average volume of 753,341. The company has a market cap of $10.89 billion, a PE ratio of -35.22 and a beta of 2.03. The business has a 50-day moving average of $114.93 and a 200-day moving average of $96.35. Kymera Therapeutics has a 1-year low of $55.66 and a 1-year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.06). Kymera Therapeutics had a negative return on equity of 22.39% and a negative net margin of 285.33%. The company had revenue of $1.35 million for the quarter, compared to analyst estimates of $3.28 million. During the same period in the prior year, the business earned ($0.94) earnings per share. Kymera Therapeutics’s revenue was up .0% on a year-over-year basis. Research analysts forecast that Kymera Therapeutics will post -3.90 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In other news, insider Brian Adams sold 6,371 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $116.83, for a total value of $744,323.93. Following the completion of the sale, the insider owned 50,254 shares of the company’s stock, valued at $5,871,174.82. This trade represents a 11.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the transaction, the chief executive officer directly owned 666,568 shares in the company, valued at $75,855,438.40. The trade was a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Kymera Therapeutics by 27.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $52,000 after acquiring an additional 98 shares in the last quarter. Abel Hall LLC grew its stake in shares of Kymera Therapeutics by 4.0% in the 3rd quarter. Abel Hall LLC now owns 4,870 shares of the company’s stock valued at $544,000 after buying an additional 189 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of 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 buying an additional 200 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Kymera Therapeutics by 3.6% in the first quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock worth $565,000 after buying an additional 235 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in Kymera Therapeutics by 7.5% in the first quarter. Cetera Investment Advisers now owns 3,602 shares of the company’s stock worth $300,000 after buying an additional 252 shares during the last quarter.

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.