Kymera Therapeutics' (KYMR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Kymera Therapeutics (NASDAQ:KYMR - Free Report) in a research note released on Thursday morning, Marketbeat reports. The firm currently has a $60.00 price objective on the stock, up from their previous price objective of $54.00.

Several other research firms have also recently commented on KYMR. UBS Group cut their price target on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. BTIG Research reiterated a "buy" rating and issued a $59.00 price objective on shares of Kymera Therapeutics in a research report on Thursday. Bank of America upgraded Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price objective for the company in a research report on Monday, June 2nd. Stifel Nicolaus assumed coverage on Kymera Therapeutics in a research report on Tuesday, May 20th. They issued a "buy" rating and a $55.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $59.61.

Kymera Therapeutics Trading Down 3.5%

Shares of Kymera Therapeutics stock traded down $1.59 during trading hours on Thursday, hitting $44.12. 3,795,632 shares of the company were exchanged, compared to its average volume of 626,239. Kymera Therapeutics has a 1 year low of $19.45 and a 1 year high of $53.27. The business has a 50-day moving average of $37.08 and a 200-day moving average of $35.76. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -14.23 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly 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 business had revenue of $22.10 million during the quarter, compared to analysts' expectations of $11.38 million. During the same quarter in the prior year, the business earned ($0.69) earnings per share. The company's quarterly revenue was up 114.6% compared to the same quarter last year. As a group, research analysts anticipate that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Elena Ridloff sold 12,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total value of $553,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nello Mainolfi sold 30,000 shares of the firm'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 $1,470,000.00. Following the completion of the transaction, the chief executive officer now owns 660,482 shares of the company's stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,349 shares of company stock worth $2,334,301 over the last 90 days. 16.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KYMR. State of Wyoming purchased a new position in Kymera Therapeutics in the 4th quarter valued at about $45,000. GF Fund Management CO. LTD. purchased a new position in Kymera Therapeutics in the 4th quarter valued at about $55,000. KBC Group NV lifted its holdings in Kymera Therapeutics by 15.2% in the 1st quarter. KBC Group NV now owns 2,479 shares of the company's stock valued at $68,000 after purchasing an additional 328 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Kymera Therapeutics in the 1st quarter valued at about $68,000. Finally, Advisors Asset Management Inc. lifted its holdings in Kymera Therapeutics by 81.7% in the 1st quarter. Advisors Asset Management Inc. now owns 4,959 shares of the company's stock valued at $136,000 after purchasing an additional 2,230 shares in 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.