Kymera Therapeutics (NASDAQ:KYMR) Price Target Cut to $69.00 by Analysts at Morgan Stanley

Kymera Therapeutics (NASDAQ:KYMR) had its target price decreased by stock analysts at Morgan Stanley from $74.00 to $69.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 46.75% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. HC Wainwright assumed coverage on Kymera Therapeutics in a research report on Friday, December 4th. They issued a “buy” rating on the stock. Zacks Investment Research raised Kymera Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.67.

NASDAQ KYMR opened at $47.02 on Tuesday. Kymera Therapeutics has a fifty-two week low of $25.43 and a fifty-two week high of $91.92. The company’s 50-day moving average is $57.51.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Thursday, March 11th. The company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.15). The business had revenue of $12.80 million during the quarter, compared to the consensus estimate of $21.60 million. The business’s revenue for the quarter was up 611.1% compared to the same quarter last year. On average, equities research analysts anticipate that Kymera Therapeutics will post -1.38 EPS for the current year.

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In other news, insider Jared Gollob sold 8,887 shares of Kymera Therapeutics stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $55.09, for a total value of $489,584.83. Following the completion of the transaction, the insider now owns 99,997 shares in the company, valued at $5,508,834.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce Booth sold 229,350 shares of Kymera Therapeutics stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $56.50, for a total transaction of $12,958,275.00. The disclosure for this sale can be found here. Insiders have sold 280,787 shares of company stock worth $15,898,710 over the last ninety days.

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Kymera Therapeutics in the fourth quarter valued at approximately $930,000. JPMorgan Chase & Co. bought a new position in shares of Kymera Therapeutics in the fourth quarter valued at approximately $1,369,000. Jane Street Group LLC bought a new position in shares of Kymera Therapeutics in the fourth quarter valued at approximately $215,000. HighVista Strategies LLC bought a new position in shares of Kymera Therapeutics in the fourth quarter valued at approximately $1,061,000. Finally, Nuveen Asset Management LLC bought a new position in shares of Kymera Therapeutics in the fourth quarter valued at approximately $2,408,000. Institutional investors own 37.83% of the company’s stock.

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 for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis, and rheumatoid arthritis; IRAKIMiD program to treat MYD88-mutated diffuse large B cell lymphoma; and STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases.

Further Reading: Buyback

Analyst Recommendations for Kymera Therapeutics (NASDAQ:KYMR)

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