Kymera Therapeutics (NASDAQ:KYMR) Given New $60.00 Price Target at HC Wainwright

Kymera Therapeutics (NASDAQ:KYMR) had its price objective increased by equities researchers at HC Wainwright from $54.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 29.12% from the company’s previous close.

KYMR has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, June 3rd. Citigroup assumed coverage on Kymera Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $52.00 price target on the stock. UBS Group cut 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. BTIG Research reissued a “buy” rating and set a $59.00 price objective on shares of Kymera Therapeutics in a report on Thursday. Finally, Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.00.

Kymera Therapeutics Trading Down 1.4%

Shares of NASDAQ:KYMR opened at $46.47 on Thursday. Kymera Therapeutics has a 12 month low of $19.45 and a 12 month high of $53.27. The stock has a market cap of $3.03 billion, a P/E ratio of -14.99 and a beta of 2.07. The company has a 50 day moving average of $36.33 and a 200 day moving average of $35.86.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data 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 30.11% and a negative net margin of 409.07%. The company had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. During the same quarter last year, the company earned ($0.69) earnings per share. The firm’s quarterly revenue was up 114.6% on a year-over-year basis. On average, equities analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In related news, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics 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 sale, the chief executive officer now owns 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elena Ridloff sold 12,000 shares of the company’s stock in a transaction 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 quarter, insiders have sold 48,349 shares of company stock worth $2,334,301. 16.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Northern Trust Corp grew its holdings in shares of Kymera Therapeutics by 14.0% during the 4th quarter. Northern Trust Corp now owns 437,833 shares of the company’s stock worth $17,614,000 after acquiring an additional 53,658 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of Kymera Therapeutics during the fourth quarter valued at approximately $344,000. Charles Schwab Investment Management Inc. boosted its position in shares of Kymera Therapeutics by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company’s stock valued at $15,577,000 after purchasing an additional 20,346 shares in the last quarter. GAMMA Investing LLC grew its stake in Kymera Therapeutics by 3,851.5% in the first quarter. GAMMA Investing LLC now owns 6,678 shares of the company’s stock worth $183,000 after purchasing an additional 6,509 shares during the period. Finally, Millennium Management LLC raised its holdings in Kymera Therapeutics by 205.0% in the fourth quarter. Millennium Management LLC now owns 115,918 shares of the company’s stock worth $4,663,000 after purchasing an additional 77,912 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.