HC Wainwright Reiterates Buy Rating for Kymera Therapeutics (NASDAQ:KYMR)

HC Wainwright reiterated their buy rating on shares of Kymera Therapeutics (NASDAQ:KYMRFree Report) in a research report sent to investors on Thursday, MarketBeat.com reports. HC Wainwright currently has a $60.00 price objective on the stock, up from their previous price objective of $54.00.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Financial Group set a $64.00 price target on Kymera Therapeutics and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded shares of Kymera Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research report on Tuesday, June 3rd. B. Riley raised shares of Kymera Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $60.00 in a report on Tuesday, June 3rd. Finally, BTIG Research reiterated a “buy” rating and issued a $59.00 price target on shares of Kymera Therapeutics in a research note on Thursday. Two investment 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.78.

Read Our Latest Report on KYMR

Kymera Therapeutics Stock Down 1.6%

NASDAQ KYMR opened at $45.71 on Thursday. The firm’s 50 day moving average is $36.72 and its 200-day moving average is $35.87. The company has a market capitalization of $2.98 billion, a PE ratio of -14.75 and a beta of 2.07. Kymera Therapeutics has a 12-month low of $19.45 and a 12-month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMRGet Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.10. The firm had revenue of $22.10 million during the quarter, compared to analysts’ expectations of $11.38 million. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. The business’s quarterly revenue was up 114.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.69) earnings per share. As a group, sell-side analysts expect that Kymera Therapeutics will post -2.79 EPS for the current year.

Insider Buying and Selling

In other news, Director Elena Ridloff sold 12,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $46.10, for a total value of $553,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nello Mainolfi sold 30,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was 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 owns 660,482 shares of the company’s stock, valued at $32,363,618. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,349 shares of company stock worth $2,334,301. Corporate insiders own 16.01% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

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

About Kymera Therapeutics

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Kymera Therapeutics (NASDAQ:KYMR)

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