Kymera Therapeutics (NASDAQ:KYMR) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research report released on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $53.00 target price on the stock.

A number of other brokerages also recently issued reports on KYMR. JPMorgan Chase & Co. boosted their price target on Kymera Therapeutics from $34.00 to $47.00 and gave the company an overweight rating in a report on Friday, February 23rd. Truist Financial boosted their price target on Kymera Therapeutics from $41.00 to $54.00 and gave the company a buy rating in a report on Friday, March 1st. Piper Sandler lifted their price objective on Kymera Therapeutics from $39.00 to $56.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. Bank of America cut Kymera Therapeutics from a buy rating to a neutral rating and cut their price objective for the company from $45.00 to $30.00 in a research report on Wednesday, January 3rd. Finally, Wolfe Research began coverage on Kymera Therapeutics in a research report on Thursday, February 15th. They set a peer perform rating on the stock. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $41.20.

Kymera Therapeutics Trading Down 5.3 %

KYMR opened at $33.35 on Monday. The company has a market cap of $2.04 billion, a P/E ratio of -13.23 and a beta of 2.27. The business’s 50-day moving average price is $39.02 and its 200-day moving average price is $28.41. Kymera Therapeutics has a 12 month low of $9.60 and a 12 month high of $45.31.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.19. Kymera Therapeutics had a negative return on equity of 34.83% and a negative net margin of 187.00%. The company had revenue of $47.90 million for the quarter, compared to the consensus estimate of $41.94 million. During the same quarter in the previous year, the business earned ($0.60) EPS. Kymera Therapeutics’s revenue was up 197.5% compared to the same quarter last year. Equities research analysts forecast that Kymera Therapeutics will post -3.15 earnings per share for the current fiscal year.

Insider Transactions at Kymera Therapeutics

In other news, Director Bruce Booth sold 51,184 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $42.85, for a total value of $2,193,234.40. Following the sale, the director now directly owns 881,266 shares of the company’s stock, valued at approximately $37,762,248.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Venture Fund X. L.P. Atlas sold 115,090 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $42.23, for a total value of $4,860,250.70. Following the transaction, the insider now directly owns 4,676,075 shares of the company’s stock, valued at approximately $197,470,647.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce Booth sold 51,184 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $42.85, for a total value of $2,193,234.40. Following the completion of the transaction, the director now directly owns 881,266 shares in the company, valued at $37,762,248.10. The disclosure for this sale can be found here. Insiders have sold a total of 474,051 shares of company stock valued at $19,624,211 in the last ninety days. 16.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KYMR. Allspring Global Investments Holdings LLC lifted its position in Kymera Therapeutics by 33.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,183 shares of the company’s stock valued at $72,000 after acquiring an additional 1,310 shares in the last quarter. Quest Partners LLC purchased a new stake in Kymera Therapeutics during the 4th quarter valued at $78,000. Arizona State Retirement System purchased a new stake in Kymera Therapeutics during the 3rd quarter valued at $142,000. China Universal Asset Management Co. Ltd. raised its stake in Kymera Therapeutics by 352.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,423 shares of the company’s stock valued at $164,000 after buying an additional 5,002 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Kymera Therapeutics during the 3rd quarter valued at $185,000.

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, 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.