Kymera Therapeutics (NASDAQ:KYMR) Upgraded to "Overweight" at Morgan Stanley

Morgan Stanley upgraded shares of Kymera Therapeutics (NASDAQ:KYMR - Free Report) from an equal weight rating to an overweight rating in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have $79.00 price objective on the stock, up from their prior price objective of $49.00.

Several other equities analysts also recently issued reports on KYMR. 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. Guggenheim reissued a "buy" rating and set a $52.00 target price on shares of Kymera Therapeutics in a report on Monday, May 12th. Citigroup began coverage on Kymera Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $52.00 target price on the stock. UBS Group dropped their target price on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Wall Street Zen raised Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.82.

Kymera Therapeutics Price Performance

Shares of NASDAQ KYMR traded down $0.04 during midday trading on Tuesday, hitting $47.62. 986,878 shares of the company's stock were exchanged, compared to its average volume of 611,517. The stock's 50 day moving average price is $30.25 and its 200-day moving average price is $35.78. The firm has a market cap of $3.10 billion, a P/E ratio of -20.35 and a beta of 2.07. Kymera Therapeutics has a twelve month low of $19.45 and a twelve month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.10. The business had revenue of $22.10 million during the quarter, compared to the consensus estimate of $11.38 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The business's revenue was up 114.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.69) earnings per share. On average, analysts expect that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 30,000 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 transaction of $1,470,000.00. Following the transaction, the chief executive officer now directly owns 660,482 shares in the company, valued at approximately $32,363,618. The trade was a 4.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Over the last 90 days, insiders have sold 48,349 shares of company stock valued at $2,334,301. Corporate insiders own 16.01% of the company's stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Kymera Therapeutics by 74.8% during the 4th quarter. Blue Trust Inc. now owns 631 shares of the company's stock worth $25,000 after purchasing an additional 270 shares in the last quarter. KBC Group NV grew its position in Kymera Therapeutics by 15.2% during 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 in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Kymera Therapeutics by 9.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company's stock valued at $198,000 after acquiring an additional 406 shares in the last quarter. Comerica Bank grew its holdings in shares of Kymera Therapeutics by 3.6% during the 1st quarter. Comerica Bank now owns 21,374 shares of the company's stock valued at $585,000 after acquiring an additional 743 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings 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 acquiring an additional 1,064 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.