Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $49.00 at Morgan Stanley

Kymera Therapeutics (NASDAQ:KYMR - Free Report) had its target price lifted by Morgan Stanley from $45.00 to $49.00 in a research note published on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Truist Financial reiterated a "buy" rating and issued a $53.00 target price (down from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. UBS Group cut their price target on Kymera Therapeutics from $80.00 to $74.00 and set a "buy" rating for the company in a research note on Monday. Wells Fargo & Company increased their price target on Kymera Therapeutics from $30.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday, August 12th. Leerink Partners reissued an "outperform" rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a report on Monday, September 9th. Finally, Leerink Partnrs raised Kymera Therapeutics to a "strong-buy" rating in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.21.

Kymera Therapeutics Stock Performance

KYMR traded up $1.79 on Wednesday, reaching $49.48. 683,480 shares of the stock were exchanged, compared to its average volume of 356,052. Kymera Therapeutics has a fifty-two week low of $13.85 and a fifty-two week high of $53.27. The company's 50-day moving average price is $46.96 and its 200 day moving average price is $40.93.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.01. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $10.34 million. During the same period last year, the firm earned ($0.90) EPS. The firm's revenue for the quarter was down 20.9% compared to the same quarter last year. As a group, research analysts predict that Kymera Therapeutics will post -2.83 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In related news, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.10, for a total value of $245,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.10, for a total value of $245,500.00. The disclosure for this sale can be found here. Company insiders own 15.82% of the company's stock.

Institutional Trading of Kymera Therapeutics

Several hedge funds have recently added to or reduced their stakes in KYMR. Price T Rowe Associates Inc. MD raised its holdings in shares of Kymera Therapeutics by 18.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company's stock valued at $254,548,000 after purchasing an additional 996,300 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Kymera Therapeutics by 19.2% during the 1st quarter. Vanguard Group Inc. now owns 4,767,050 shares of the company's stock worth $191,635,000 after acquiring an additional 769,486 shares in the last quarter. Artal Group S.A. increased its holdings in shares of Kymera Therapeutics by 19.6% in the 1st quarter. Artal Group S.A. now owns 3,027,135 shares of the company's stock valued at $121,691,000 after acquiring an additional 496,400 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Kymera Therapeutics during the 2nd quarter worth about $6,669,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Kymera Therapeutics during the 2nd quarter worth about $4,271,000.

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.