Truist Financial Raises Kymera Therapeutics (NASDAQ:KYMR) Price Target to $68.00

Key Points

• Truist Financial has raised its price target for Kymera Therapeutics (KYMR) from $53.00 to $68.00, reflecting a potential upside of 17.18% based on the stock's previous close.
• Kymera Therapeutics recently reported a quarterly earnings miss, with an EPS of ($0.95) compared to the consensus estimate of ($0.83).
• There is significant institutional interest in Kymera Therapeutics, with several hedge funds increasing their stakes by over 500% in the last quarter.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) had its target price increased by Truist Financial from $53.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective points to a potential upside of 17.18% from the company's previous close.

KYMR has been the topic of several other research reports. Bank of America upgraded 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, June 2nd. HC Wainwright boosted their price objective on Kymera Therapeutics from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. BTIG Research restated a "buy" rating and set a $59.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Jefferies Financial Group set a $64.00 price objective on Kymera Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company reduced their price objective on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kymera Therapeutics has a consensus rating of "Buy" and a consensus target price of $60.74.

Kymera Therapeutics Stock Down 0.8%

Shares of KYMR traded down $0.47 during midday trading on Tuesday, hitting $58.03. The company's stock had a trading volume of 133,697 shares, compared to its average volume of 753,936. Kymera Therapeutics has a one year low of $19.44 and a one year high of $58.93. The company's fifty day simple moving average is $44.84 and its two-hundred day simple moving average is $38.80. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -16.84 and a beta of 2.17.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The business had revenue of $11.48 million during the quarter, compared to the consensus estimate of $17.37 million. During the same quarter in the previous year, the business posted ($0.58) EPS. The company's revenue for the quarter was down 55.1% on a year-over-year basis. On average, research analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity

In other Kymera Therapeutics news, CFO Bruce N. Jacobs sold 79,220 shares of Kymera Therapeutics stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $50.00, for a total transaction of $3,961,000.00. Following the transaction, the chief financial officer directly owned 227,409 shares of the company's stock, valued at approximately $11,370,450. The trade was a 25.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the transaction, the chief executive officer directly owned 660,482 shares in the company, valued at $32,363,618. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its stake in shares of Kymera Therapeutics by 642.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company's stock valued at $27,000 after purchasing an additional 540 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Kymera Therapeutics by 506.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company's stock valued at $40,000 after purchasing an additional 770 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Kymera Therapeutics by 18,050.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock valued at $48,000 after purchasing an additional 1,083 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Kymera Therapeutics in the 1st quarter valued at about $68,000. Finally, KBC Group NV lifted its stake in shares of 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 during the period.

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.

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