JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Kymera Therapeutics (NASDAQ:KYMR) Stock

Kymera Therapeutics (NASDAQ:KYMR - Free Report) had its target price upped by JPMorgan Chase & Co. from $57.00 to $64.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the company. Bank of America raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price target on the stock in a research note on Monday. Wall Street Zen upgraded Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Morgan Stanley upgraded Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $49.00 to $79.00 in a report on Tuesday. B. Riley upgraded Kymera Therapeutics from a "neutral" rating to a "buy" rating and raised their price objective for the company from $38.00 to $60.00 in a report on Tuesday. Finally, UBS Group decreased their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.82.

Kymera Therapeutics Price Performance

Shares of KYMR traded down $0.04 during midday trading on Tuesday, hitting $47.62. The stock had a trading volume of 986,878 shares, compared to its average volume of 611,517. The company has a 50 day simple moving average of $30.25 and a two-hundred day simple moving average of $35.78. Kymera Therapeutics has a twelve month low of $19.45 and a twelve month high of $53.27. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -20.35 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm had revenue of $22.10 million for the quarter, compared to the consensus estimate of $11.38 million. During the same quarter last year, the business posted ($0.69) EPS. The company's revenue for the quarter was up 114.6% on a year-over-year basis. Analysts forecast that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In related news, Director Elena Ridloff sold 12,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $46.10, for a total value of $553,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nello Mainolfi sold 30,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the completion of the sale, the chief executive officer now owns 660,482 shares of the company's stock, valued at $32,363,618. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,349 shares of company stock worth $2,334,301. Insiders own 16.01% of the company's stock.

Institutional Investors Weigh In On Kymera Therapeutics

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company's stock worth $25,000 after acquiring an additional 270 shares during the last quarter. KBC Group NV lifted its position in Kymera Therapeutics by 53.8% during the fourth quarter. KBC Group NV now owns 2,151 shares of the company's stock worth $87,000 after acquiring an additional 752 shares during the last quarter. Rhumbline Advisers lifted its position in Kymera Therapeutics by 3.0% during the fourth quarter. Rhumbline Advisers now owns 64,157 shares of the company's stock worth $2,581,000 after acquiring an additional 1,861 shares during the last quarter. Bank of New York Mellon Corp lifted its position in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Kymera Therapeutics by 5.5% during the fourth 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.

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.