HC Wainwright Reiterates Buy Rating for Kymera Therapeutics (NASDAQ:KYMR)

HC Wainwright reissued their buy rating on shares of Kymera Therapeutics (NASDAQ:KYMR - Free Report) in a research report released on Thursday morning, Marketbeat.com reports. They currently have a $60.00 target price on the stock, up from their prior target price of $54.00.

A number of other equities analysts have also issued reports on the stock. Jefferies Financial Group set a $64.00 price target on shares of Kymera Therapeutics and gave the stock a "buy" rating in a research report on Wednesday. UBS Group cut their price objective on shares of Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup began coverage on Kymera Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $52.00 price target on the stock. Finally, BTIG Research reiterated a "buy" rating and set a $59.00 price objective on shares of Kymera Therapeutics in a research note on Thursday. 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 company. According to data from MarketBeat.com, Kymera Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $59.78.

Kymera Therapeutics Stock Performance

KYMR stock traded down $0.76 during midday trading on Thursday, reaching $45.71. The stock had a trading volume of 1,421,060 shares, compared to its average volume of 616,776. The firm has a fifty day simple moving average of $36.33 and a two-hundred day simple moving average of $35.86. Kymera Therapeutics has a 52-week low of $19.45 and a 52-week high of $53.27. The stock has a market cap of $2.98 billion, a PE ratio of -14.75 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. During the same period in the prior year, the company earned ($0.69) earnings per share. The company's revenue was up 114.6% on a year-over-year basis. On average, sell-side analysts predict that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey W. Albers sold 6,349 shares of the business's stock in a transaction 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 at this hyperlink. Also, CEO Nello Mainolfi sold 30,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the transaction, the chief executive officer now owns 660,482 shares of the company's stock, valued at $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,349 shares of company stock worth $2,334,301. 16.01% of the stock is owned by corporate insiders.

Institutional Trading of Kymera Therapeutics

Several institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its position in shares of Kymera Therapeutics by 14.0% during the 4th quarter. Northern Trust Corp now owns 437,833 shares of the company's stock worth $17,614,000 after purchasing an additional 53,658 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Kymera Therapeutics during the 4th quarter worth approximately $344,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Kymera Therapeutics by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company's stock valued at $15,577,000 after acquiring an additional 20,346 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Kymera Therapeutics by 3,851.5% in the first quarter. GAMMA Investing LLC now owns 6,678 shares of the company's stock valued at $183,000 after acquiring an additional 6,509 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Kymera Therapeutics by 205.0% in the fourth quarter. Millennium Management LLC now owns 115,918 shares of the company's stock valued at $4,663,000 after acquiring an additional 77,912 shares in the last quarter.

Kymera Therapeutics Company Profile

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.