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

Kymera Therapeutics (NASDAQ:KYMR - Free Report) had its target price decreased by Wells Fargo & Company from $57.00 to $53.00 in a report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the stock. UBS Group dropped 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. Morgan Stanley raised Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $49.00 to $79.00 in a research note on Tuesday, June 3rd. Jefferies Financial Group set a $64.00 price target on Kymera Therapeutics and gave the stock a "buy" rating in a research note on Wednesday. B. Riley upgraded Kymera Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $38.00 to $60.00 in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Kymera Therapeutics from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.61.

Kymera Therapeutics Stock Down 3.5%

NASDAQ:KYMR traded down $1.59 during trading hours on Thursday, hitting $44.12. 3,795,632 shares of the company's stock traded hands, compared to its average volume of 626,239. The firm has a market cap of $2.87 billion, a P/E ratio of -14.23 and a beta of 2.07. The business's fifty day simple moving average is $37.08 and its two-hundred day simple moving average is $35.76. 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 earnings results on Friday, May 9th. The company reported ($0.82) earnings per share (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 business had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. During the same period in the previous year, the business posted ($0.69) earnings per share. Kymera Therapeutics's revenue for the quarter was up 114.6% on a year-over-year basis. On average, analysts expect that Kymera Therapeutics will post -2.79 EPS for the current year.

Insider Transactions at Kymera Therapeutics

In other news, Director Jeffrey W. Albers sold 6,349 shares of Kymera Therapeutics stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $311,101.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elena Ridloff sold 12,000 shares of Kymera Therapeutics stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total transaction of $553,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,349 shares of company stock valued at $2,334,301. Corporate insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

A number of large investors have recently made changes to their positions in KYMR. KBC Group NV grew its position 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. grew its holdings in shares of Kymera Therapeutics by 9.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company's stock worth $198,000 after acquiring an additional 406 shares during the period. Comerica Bank grew its holdings in shares of Kymera Therapeutics by 3.6% in the first quarter. Comerica Bank now owns 21,374 shares of the company's stock worth $585,000 after acquiring an additional 743 shares during the period. Hsbc Holdings PLC grew its stake in shares of Kymera Therapeutics by 6.1% during the 1st quarter. Hsbc Holdings PLC now owns 18,547 shares of the company's stock valued at $508,000 after purchasing an additional 1,064 shares during the period. Finally, State of Wyoming bought a new stake in Kymera Therapeutics during the fourth quarter valued at approximately $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.