Wells Fargo & Company Boosts Kymera Therapeutics (NASDAQ:KYMR) Price Target to $151.00

Kymera Therapeutics (NASDAQ:KYMR) had its target price upped by equities research analysts at Wells Fargo & Company from $116.00 to $151.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 22.39% from the company’s previous close.

Several other analysts have also weighed in on the company. Citigroup reiterated a “buy” rating on shares of Kymera Therapeutics in a research report on Thursday, August 6th. TD Cowen raised shares of Kymera Therapeutics to a “strong-buy” rating in a report on Monday. Mizuho increased their target price on shares of Kymera Therapeutics from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Canaccord Genuity Group raised their price target on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, Barclays lifted their price target on shares of Kymera Therapeutics from $133.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.17.

Kymera Therapeutics Stock Performance

Shares of KYMR stock opened at $123.37 on Thursday. The stock’s fifty day moving average price is $111.63 and its two-hundred day moving average price is $93.15. The company has a market cap of $10.26 billion, a PE ratio of -38.22 and a beta of 1.95. Kymera Therapeutics has a fifty-two week low of $39.84 and a fifty-two week high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The company had revenue of $65.00 million during the quarter, compared to analysts’ expectations of $32.78 million. During the same quarter in the previous year, the firm earned ($0.95) EPS. Kymera Therapeutics’s revenue was up 465.2% on a year-over-year basis. On average, equities analysts predict that Kymera Therapeutics will post -3.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bruce Booth sold 467,878 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $110.29, for a total value of $51,602,264.62. Following the sale, the director directly owned 472,267 shares of the company’s stock, valued at approximately $52,086,327.43. This represents a 49.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nello Mainolfi sold 80,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $115.29, for a total transaction of $9,223,200.00. Following the sale, the chief executive officer owned 666,568 shares of the company’s stock, valued at approximately $76,848,624.72. This trade represents a 10.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,587,629 shares of company stock valued at $386,183,782 in the last ninety days. Insiders own 15.98% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Kymera Therapeutics by 382.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock worth $42,000 after acquiring an additional 424 shares during the period. Larson Financial Group LLC lifted its stake in shares of Kymera Therapeutics by 81.5% in the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after purchasing an additional 349 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Kymera Therapeutics by 18,050.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock valued at $48,000 after purchasing an additional 1,083 shares during the period. GAMMA Investing LLC boosted its position in shares of Kymera Therapeutics by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $52,000 after purchasing an additional 98 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Kymera Therapeutics during the 4th quarter valued at about $63,000.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.