BofA analyst Tazeen Ahmad lowered the firm’s price target on Kymera Therapeutics (KYMR) to $44 from $47 and keeps a Neutral rating on the shares. After Kymera announced the completion of the KT-621 Phase 1 SAD/MAD healthy volunteer study, with data on track to readout in June, the firm said it is “encouraged” by the progress of the program and awaits updates to gain clarity on the clinical viability as a degradation-based approach remains to be de-risked.
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