Oppenheimer Cuts Kymera Therapeutics (NASDAQ:KYMR) Price Target to $52.00

Kymera Therapeutics (NASDAQ:KYMR) had its target price lowered by Oppenheimer from $53.00 to $52.00 in a research report released on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kymera Therapeutics from $34.00 to $47.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Wolfe Research began coverage on shares of Kymera Therapeutics in a research report on Thursday, February 15th. They issued a peer perform rating on the stock. Stifel Nicolaus raised their target price on Kymera Therapeutics from $35.00 to $55.00 and gave the company a buy rating in a research report on Friday, February 23rd. Piper Sandler upped their price target on shares of Kymera Therapeutics from $39.00 to $56.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Finally, Truist Financial boosted their target price on Kymera Therapeutics from $41.00 to $54.00 and gave the stock a buy rating in a report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $41.10.

Kymera Therapeutics Stock Performance

Shares of KYMR stock traded up $0.90 during trading hours on Friday, hitting $38.30. 424,667 shares of the company were exchanged, compared to its average volume of 714,290. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -14.90 and a beta of 2.31. Kymera Therapeutics has a one year low of $9.60 and a one year high of $45.31. The business’s 50-day simple moving average is $38.52 and its two-hundred day simple moving average is $29.57.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, May 2nd. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.04. The company had revenue of $10.30 million during the quarter, compared to analyst estimates of $14.24 million. Kymera Therapeutics had a negative return on equity of 31.92% and a negative net margin of 194.67%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.70) EPS. As a group, analysts anticipate that Kymera Therapeutics will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In related news, insider Jared Gollob sold 46,137 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $35.50, for a total transaction of $1,637,863.50. Following the transaction, the insider now directly owns 74,709 shares of the company’s stock, valued at $2,652,169.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jeffrey W. Albers sold 4,385 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $39.05, for a total transaction of $171,234.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jared Gollob sold 46,137 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $35.50, for a total transaction of $1,637,863.50. Following the completion of the sale, the insider now owns 74,709 shares of the company’s stock, valued at $2,652,169.50. The disclosure for this sale can be found here. Insiders have sold a total of 474,051 shares of company stock valued at $19,624,211 in the last three months. 16.67% of the stock is currently owned by company insiders.

Institutional Trading of Kymera Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in KYMR. Quest Partners LLC bought a new position in shares of Kymera Therapeutics in the 4th quarter valued at approximately $78,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Kymera Therapeutics by 33.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,183 shares of the company’s stock worth $72,000 after buying an additional 1,310 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Kymera Therapeutics by 352.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,423 shares of the company’s stock worth $164,000 after buying an additional 5,002 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Kymera Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,359 shares of the company’s stock worth $187,000 after buying an additional 1,866 shares during the period. Finally, Aigen Investment Management LP acquired a new position in Kymera Therapeutics in the 4th quarter valued at $233,000.

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.