Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $125.00 at JPMorgan Chase & Co.

Kymera Therapeutics (NASDAQ:KYMR) had its price objective upped by JPMorgan Chase & Co. from $70.00 to $125.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 43.91% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Mizuho started coverage on shares of Kymera Therapeutics in a report on Tuesday, October 21st. They set an “outperform” rating and a $81.00 target price for the company. Stifel Nicolaus set a $114.00 target price on Kymera Therapeutics in a report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kymera Therapeutics in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Kymera Therapeutics from $69.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $125.00 target price (up from $98.00) on shares of Kymera Therapeutics in a report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Kymera Therapeutics has a consensus rating of “Buy” and an average price target of $108.35.

Kymera Therapeutics Price Performance

Kymera Therapeutics stock traded down $0.02 during midday trading on Wednesday, reaching $86.86. 1,386,158 shares of the company traded hands, compared to its average volume of 780,823. Kymera Therapeutics has a 12 month low of $19.44 and a 12 month high of $103.00. The business has a 50 day moving average of $62.80 and a two-hundred day moving average of $50.90. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of -24.29 and a beta of 2.28.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.19). The firm had revenue of $2.76 million for the quarter, compared to the consensus estimate of $23.15 million. Kymera Therapeutics had a negative net margin of 674.81% and a negative return on equity of 32.92%. As a group, equities analysts forecast that Kymera Therapeutics will post -2.79 EPS for the current year.

Insider Transactions at Kymera Therapeutics

In other news, CEO Nello Mainolfi sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $89.17, for a total transaction of $8,917,000.00. Following the sale, the chief executive officer directly owned 660,482 shares of the company’s stock, valued at $58,895,179.94. This represents a 13.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jared Gollob sold 49,307 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $88.67, for a total transaction of $4,372,051.69. Following the completion of the transaction, the insider directly owned 109,992 shares of the company’s stock, valued at approximately $9,752,990.64. This trade represents a 30.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 361,217 shares of company stock worth $25,140,500. 16.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Large investors have recently made changes to their positions in the company. Holocene Advisors LP bought a new stake in shares of Kymera Therapeutics in the 3rd quarter valued at about $47,563,000. Commodore Capital LP acquired a new position in Kymera Therapeutics during the 2nd quarter valued at about $32,730,000. Wellington Management Group LLP increased its holdings in shares of Kymera Therapeutics by 13.0% during the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company’s stock valued at $164,134,000 after acquiring an additional 689,547 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Kymera Therapeutics by 1,130.2% in the third quarter. Alyeska Investment Group L.P. now owns 615,091 shares of the company’s stock worth $34,814,000 after buying an additional 565,091 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in Kymera Therapeutics during the 3rd quarter worth about $31,622,000.

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.