Oppenheimer Cuts Kymera Therapeutics (NASDAQ:KYMR) Price Target to $53.00

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) had its price objective cut by equities researchers at Oppenheimer from $56.00 to $53.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's target price indicates a potential upside of 20.45% from the company's current price.

A number of other brokerages also recently commented on KYMR. UBS Group reduced their price objective on shares of Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. BTIG Research reaffirmed a "buy" rating and issued a $59.00 target price on shares of Kymera Therapeutics in a research note on Thursday. Citigroup assumed coverage on shares of Kymera Therapeutics in a research note on Thursday, March 13th. They set a "buy" rating and a $52.00 price target on the stock. Wells Fargo & Company lowered their price objective on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.61.

Kymera Therapeutics Price Performance

Shares of NASDAQ KYMR traded down $1.71 during mid-day trading on Friday, hitting $44.00. The company had a trading volume of 1,854,661 shares, compared to its average volume of 622,364. The company has a market capitalization of $2.87 billion, a PE ratio of -14.21 and a beta of 2.07. The business's 50-day simple moving average is $36.72 and its 200 day simple moving average is $35.87. Kymera Therapeutics has a 1-year low of $19.45 and a 1-year high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released 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 analysts' expectations of $11.38 million. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. The company's revenue for the quarter was up 114.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.69) EPS. On average, analysts expect that Kymera Therapeutics will post -2.79 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 6,349 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $311,101.00. The disclosure for this sale can be found here. Insiders have sold 48,349 shares of company stock valued at $2,334,301 in the last 90 days. 16.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in Kymera Therapeutics by 9.0% in the first quarter. Rhumbline Advisers now owns 69,928 shares of the company's stock valued at $1,914,000 after buying an additional 5,771 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Kymera Therapeutics by 121.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock valued at $24,535,000 after acquiring an additional 491,737 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Kymera Therapeutics by 340.4% in the 1st quarter. Millennium Management LLC now owns 510,480 shares of the company's stock worth $13,972,000 after acquiring an additional 394,562 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Kymera Therapeutics by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,793 shares of the company's stock worth $849,000 after acquiring an additional 1,833 shares during the last quarter. Finally, Eventide Asset Management LLC increased its holdings in Kymera Therapeutics by 15.2% during the 1st quarter. Eventide Asset Management LLC now owns 525,138 shares of the company's stock valued at $14,373,000 after purchasing an additional 69,410 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.

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