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

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) had its price target lowered by investment analysts at Wells Fargo & Company from $57.00 to $53.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 17.45% from the company's current price.

Several other equities research analysts have also issued reports on KYMR. Stifel Nicolaus started coverage on shares of Kymera Therapeutics in a research note on Tuesday, May 20th. They set a "buy" rating and a $55.00 price target for the company. HC Wainwright increased their price objective on Kymera Therapeutics from $54.00 to $60.00 and gave the company a "buy" rating in a report on Thursday. UBS Group dropped their price target on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. BTIG Research reissued a "buy" rating and issued a $59.00 price objective on shares of Kymera Therapeutics in a report on Thursday. Finally, Wall Street Zen upgraded Kymera Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.78.

Kymera Therapeutics Stock Performance

NASDAQ:KYMR traded down $1.35 during trading on Thursday, reaching $45.13. The company's stock had a trading volume of 211,776 shares, compared to its average volume of 737,948. Kymera Therapeutics has a 12 month low of $19.44 and a 12 month high of $53.27. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -14.56 and a beta of 2.07. The firm has a 50 day moving average of $36.33 and a 200-day moving average of $35.86.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.10. The company had revenue of $22.10 million during 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%. The firm's revenue for the quarter was up 114.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.69) earnings per share. Equities research analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 6,349 shares of Kymera Therapeutics stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $311,101.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nello Mainolfi sold 30,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 660,482 shares of the company's stock, valued at $32,363,618. The trade was a 4.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 in the last three months. Corporate insiders own 16.01% of the company's stock.

Institutional Investors Weigh In On Kymera Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in shares of Kymera Therapeutics by 3.0% during the 4th quarter. Rhumbline Advisers now owns 64,157 shares of the company's stock valued at $2,581,000 after buying an additional 1,861 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Kymera Therapeutics by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 127,093 shares of the company's stock worth $5,113,000 after acquiring an additional 5,448 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kymera Therapeutics by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company's stock worth $15,577,000 after acquiring an additional 20,346 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Kymera Therapeutics by 174.2% in the 4th quarter. Victory Capital Management Inc. now owns 19,899 shares of the company's stock valued at $801,000 after purchasing an additional 12,643 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Kymera Therapeutics by 15.5% during the 4th quarter. Arizona State Retirement System now owns 11,221 shares of the company's stock valued at $451,000 after purchasing an additional 1,503 shares during the last quarter.

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.

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