Kymera Therapeutics (NASDAQ:KYMR) Now Covered by Morgan Stanley

Equities researchers at Morgan Stanley started coverage on shares of Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) in a note issued to investors on Thursday, Marketbeat reports. The firm 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 stock's previous close.

KYMR has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on Kymera Therapeutics from $57.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company decreased their price target on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Citigroup began coverage on shares of Kymera Therapeutics in a research note on Thursday, March 13th. They set a "buy" rating and a $52.00 price objective on the stock. UBS Group reduced their price objective on shares of Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Kymera Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $59.11.

Kymera Therapeutics Trading Up 0.6%

NASDAQ:KYMR traded up $0.28 during mid-day trading on Thursday, hitting $44.81. The stock had a trading volume of 240,486 shares, compared to its average volume of 632,626. The company has a 50 day simple moving average of $38.23 and a 200-day simple moving average of $35.90. 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 has a 52 week low of $19.45 and a 52 week high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. Kymera Therapeutics's revenue was up 114.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.69) earnings per share. As a group, equities research analysts anticipate that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker acquired 655,500 shares of the business's stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $44.00 per share, for a total transaction of $28,842,000.00. Following the transaction, the director owned 6,117,295 shares of the company's stock, valued at approximately $269,160,980. The trade was a 12.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the completion of the transaction, the chief executive officer owned 660,482 shares in the company, valued at $32,363,618. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,349 shares of company stock valued at $2,334,301 in the last three months. Insiders own 16.01% of the company's stock.

Institutional Investors Weigh In On Kymera Therapeutics

A number of large investors have recently made changes to their positions in KYMR. Price T Rowe Associates Inc. MD grew its position in Kymera Therapeutics by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,870,333 shares of the company's stock worth $276,395,000 after purchasing an additional 224,859 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Kymera Therapeutics by 13.0% in the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock worth $164,134,000 after buying an additional 689,547 shares during the period. Vanguard Group Inc. grew its holdings in shares of Kymera Therapeutics by 7.0% during the first quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company's stock valued at $143,183,000 after buying an additional 344,080 shares in the last quarter. Avoro Capital Advisors LLC grew its holdings 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 valued at $207,184,000 after buying an additional 650,000 shares in the last quarter. Finally, Siren L.L.C. raised its position in Kymera Therapeutics by 9.1% during the first quarter. Siren L.L.C. now owns 3,240,313 shares of the company's stock valued at $88,687,000 after buying an additional 270,580 shares during the period.

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.