Bank of America Issues Pessimistic Forecast for Kymera Therapeutics (NASDAQ:KYMR) Stock Price

Kymera Therapeutics (NASDAQ:KYMR) had its price objective lowered by Bank of America from $47.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 36.74% from the stock’s previous close.

A number of other research firms also recently commented on KYMR. Guggenheim reaffirmed a “buy” rating and set a $52.00 price objective on shares of Kymera Therapeutics in a report on Monday. HC Wainwright lifted their price target on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 28th. Citigroup initiated coverage on shares of Kymera Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Stephens restated an “overweight” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.53.

Kymera Therapeutics Stock Performance

Shares of NASDAQ:KYMR traded up $2.11 during mid-day trading on Monday, hitting $32.18. The stock had a trading volume of 144,363 shares, compared to its average volume of 563,325. The company has a market cap of $2.10 billion, a PE ratio of -13.75 and a beta of 2.18. Kymera Therapeutics has a 12-month low of $19.45 and a 12-month high of $53.27. The company’s 50 day moving average is $29.57 and its 200-day moving average is $37.52.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.10. The firm had revenue of $22.10 million for the quarter, compared to the consensus estimate of $11.38 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The firm’s revenue was up 114.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.69) earnings per share. On average, equities research analysts predict that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Transactions at Kymera Therapeutics

In other Kymera Therapeutics news, COO Jeremy G. Chadwick sold 1,383 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $42,112.35. Following the transaction, the chief operating officer now directly owns 67,800 shares in the company, valued at $2,064,510. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bruce N. Jacobs sold 7,035 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $214,215.75. Following the completion of the transaction, the chief financial officer now owns 201,886 shares in the company, valued at $6,147,428.70. This trade represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,659 shares of company stock valued at $324,567 over the last 90 days. 15.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of Kymera Therapeutics by 14.9% during the fourth quarter. Wellington Management Group LLP now owns 5,307,326 shares of the company’s stock worth $213,514,000 after buying an additional 688,967 shares during the period. Avoro Capital Advisors LLC increased its position in shares of Kymera Therapeutics by 14.4% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company’s stock worth $207,184,000 after buying an additional 650,000 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of Kymera Therapeutics during the fourth quarter worth $23,856,000. Boxer Capital Management LLC acquired a new stake in shares of Kymera Therapeutics during the fourth quarter worth $17,098,000. Finally, Janus Henderson Group PLC increased its position in shares of Kymera Therapeutics by 2,397.9% during the fourth quarter. Janus Henderson Group PLC now owns 377,384 shares of the company’s stock worth $15,197,000 after buying an additional 362,276 shares during the period.

About Kymera Therapeutics

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.