UBS Group Lowers Kymera Therapeutics (NASDAQ:KYMR) Price Target to $70.00

Kymera Therapeutics (NASDAQ:KYMR) had its price target decreased by UBS Group from $72.00 to $70.00 in a research report released on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. HC Wainwright increased their target price on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Bank of America dropped their target price on Kymera Therapeutics from $47.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday. Guggenheim reissued a “buy” rating and issued a $52.00 price objective on shares of Kymera Therapeutics in a research report on Monday. Citigroup started coverage on Kymera Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Stephens reissued an “overweight” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kymera Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $55.27.

Kymera Therapeutics Trading Up 0.9%

Shares of NASDAQ KYMR opened at $30.02 on Tuesday. The stock has a market capitalization of $1.95 billion, a PE ratio of -12.83 and a beta of 2.18. The stock’s fifty day simple moving average is $29.42 and its two-hundred day simple moving average is $37.18. Kymera Therapeutics has a 12-month low of $19.45 and a 12-month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results 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. The business had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $11.38 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The business’s revenue for the quarter was up 114.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.69) EPS. On average, equities analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jeremy G. Chadwick sold 1,383 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $42,112.35. Following the completion of the transaction, the chief operating officer now owns 67,800 shares of the company’s stock, valued at $2,064,510. The trade was a 2.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Bruce N. Jacobs sold 7,035 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $214,215.75. Following the completion of the transaction, the chief financial officer now directly owns 201,886 shares of the company’s stock, valued at approximately $6,147,428.70. This trade represents a 3.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,659 shares of company stock valued at $324,567. 16.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in shares of Kymera Therapeutics by 74.8% in the 4th quarter. Blue Trust Inc. now owns 631 shares of the company’s stock valued at $25,000 after buying an additional 270 shares during the period. KBC Group NV lifted its holdings 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 buying an additional 328 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Kymera Therapeutics by 9.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company’s stock valued at $198,000 after buying an additional 406 shares during the period. Comerica Bank lifted its holdings in shares of Kymera Therapeutics by 3.6% in the 1st quarter. Comerica Bank now owns 21,374 shares of the company’s stock valued at $585,000 after buying an additional 743 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Kymera Therapeutics by 6.1% in the 1st quarter. Hsbc Holdings PLC now owns 18,547 shares of the company’s stock valued at $508,000 after buying an additional 1,064 shares during the period.

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.