Zacks Investment Research Downgrades Kymera Therapeutics (NASDAQ:KYMR) to Hold

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Kymera Therapeutics (NASDAQ:KYMRGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Kymera Therapeutics Inc. is a biopharmaceutical company. It is focused on discovering and developing small molecule therapeutics for degrade dysregulated, disease-causing proteins to address previously intractable disease targets. Kymera Therapeutics Inc. is based in Watertown, United States. “

Other analysts have also recently issued research reports about the stock. Morgan Stanley cut their target price on shares of Kymera Therapeutics from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 2nd. Credit Suisse Group initiated coverage on shares of Kymera Therapeutics in a research note on Thursday, April 28th. They set an “outperform” rating and a $63.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Kymera Therapeutics in a research note on Thursday, March 10th. They set a “neutral” rating and a $44.00 target price for the company. Finally, Wells Fargo & Company assumed coverage on shares of Kymera Therapeutics in a research note on Thursday, February 10th. They set an “overweight” rating and a $62.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $68.50.

KYMR opened at $24.88 on Wednesday. Kymera Therapeutics has a fifty-two week low of $23.16 and a fifty-two week high of $69.12. The company has a fifty day moving average of $37.86 and a two-hundred day moving average of $47.33. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -12.08 and a beta of 2.20.

Kymera Therapeutics (NASDAQ:KYMRGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.04). The firm had revenue of $9.62 million during the quarter, compared to analysts’ expectations of $18.66 million. Kymera Therapeutics had a negative net margin of 137.60% and a negative return on equity of 27.16%. The firm’s quarterly revenue was down 48.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.29) EPS. On average, analysts predict that Kymera Therapeutics will post -2.32 earnings per share for the current year.

A number of large investors have recently bought and sold shares of KYMR. Invesco Ltd. acquired a new position in Kymera Therapeutics in the 2nd quarter valued at about $450,000. Wells Fargo & Company MN lifted its holdings in shares of Kymera Therapeutics by 60.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,430 shares of the company’s stock worth $69,000 after acquiring an additional 541 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Kymera Therapeutics by 12.0% in the 3rd quarter. Amalgamated Bank now owns 6,117 shares of the company’s stock worth $359,000 after acquiring an additional 657 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Kymera Therapeutics by 379.9% in the 3rd quarter. SG Americas Securities LLC now owns 16,903 shares of the company’s stock worth $993,000 after acquiring an additional 13,381 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Kymera Therapeutics by 19.8% in the 3rd quarter. Victory Capital Management Inc. now owns 6,202 shares of the company’s stock worth $364,000 after acquiring an additional 1,023 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

About Kymera Therapeutics (Get Rating)

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 I clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis, macrophage activation syndrome, general pustular psoriasis, and rheumatoid arthritis; IRAKIMiD program to treat MYD88-mutated diffuse large B cell lymphoma; 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.

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