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

Stock analysts at Morgan Stanley assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) in a research report issued to clients and investors 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 suggests a potential upside of 56.22% from the company's current price.

KYMR has been the subject of several other reports. Stifel Nicolaus started coverage on Kymera Therapeutics in a research report on Tuesday, May 20th. They set a "buy" rating and a $55.00 price objective for the company. UBS Group lowered their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. BTIG Research reaffirmed a "buy" rating and set a $59.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Oppenheimer reaffirmed an "outperform" rating and set a $53.00 price objective (down from $56.00) on shares of Kymera Therapeutics in a research report on Friday, June 27th. Finally, B. Riley raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $38.00 to $60.00 in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.11.

Kymera Therapeutics Trading Up 0.6%

KYMR traded up $0.28 on Thursday, hitting $44.81. 240,486 shares of the company were exchanged, compared to its average volume of 634,197. Kymera Therapeutics has a twelve month low of $19.45 and a twelve month high of $53.27. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -14.45 and a beta of 2.18. The firm has a 50-day moving average price of $38.46 and a two-hundred day moving average price of $35.88.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. The firm had revenue of $22.10 million during the quarter, compared to analysts' expectations of $11.38 million. During the same period in the previous year, the firm posted ($0.69) EPS. Kymera Therapeutics's revenue for the quarter was up 114.6% on a year-over-year basis. Equities analysts expect that Kymera Therapeutics will post -2.79 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bros. Advisors Lp Baker purchased 655,500 shares of the business's stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $44.00 per share, for a total transaction of $28,842,000.00. Following the completion of the purchase, the director directly owned 6,117,295 shares of the company's stock, valued at $269,160,980. This trade represents a 12.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bvf Partners L. P/Il purchased 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, with a total value of $13,955,348.00. Following the purchase, the director directly owned 2,798,795 shares of the company's stock, valued at approximately $123,146,980. The trade was a 12.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 48,349 shares of company stock worth $2,334,301. Corporate insiders own 16.01% of the company's stock.

Institutional Investors Weigh In On Kymera Therapeutics

Several large investors have recently modified their holdings of KYMR. Wellington Management Group LLP raised its stake in shares of Kymera Therapeutics by 13.0% during the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock worth $164,134,000 after purchasing an additional 689,547 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in shares of Kymera Therapeutics by 14.4% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company's stock worth $207,184,000 after purchasing an additional 650,000 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of Kymera Therapeutics during the fourth quarter worth approximately $23,856,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Kymera Therapeutics by 121.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock worth $24,535,000 after acquiring an additional 491,737 shares during the period. Finally, Boxer Capital Management LLC acquired a new position in Kymera Therapeutics during the fourth quarter worth $17,098,000.

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.