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

Investment analysts at Barclays began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set an “overweight” rating on the stock.

KYMR has been the topic of several other reports. Wells Fargo & Company lowered their target price on shares of Kymera Therapeutics from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, June 26th. Wall Street Zen cut Kymera Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Oppenheimer reaffirmed an “outperform” rating and set a $53.00 price objective (down from $56.00) on shares of Kymera Therapeutics in a report on Friday, June 27th. Bank of America raised Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Kymera Therapeutics from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Kymera Therapeutics has an average rating of “Buy” and an average target price of $59.95.

Kymera Therapeutics Stock Up 3.8%

KYMR stock traded up $1.81 on Tuesday, reaching $49.93. 255,408 shares of the company’s stock were exchanged, compared to its average volume of 737,369. The stock has a fifty day moving average of $43.63 and a 200-day moving average of $37.61. The firm has a market cap of $3.57 billion, a PE ratio of -14.37 and a beta of 2.17. Kymera Therapeutics has a twelve month low of $19.44 and a twelve month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Monday, August 11th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The company had revenue of $11.48 million for the quarter, compared to analysts’ expectations of $17.37 million. Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.Kymera Therapeutics’s revenue for the quarter was down 55.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. On average, equities research analysts predict that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Bruce N. Jacobs sold 79,220 shares of Kymera Therapeutics stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $50.00, for a total value of $3,961,000.00. Following the completion of the sale, the chief financial officer owned 227,409 shares of the company’s stock, valued at $11,370,450. The trade was a 25.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker purchased 655,500 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following the completion of the purchase, the director owned 6,117,295 shares in the company, valued at $269,160,980. The trade was a 12.00% increase in their position. The disclosure for this purchase can be found here. 16.01% of the stock is currently owned by insiders.

Institutional Trading of Kymera Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in Kymera Therapeutics by 642.9% during the second quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock worth $27,000 after buying an additional 540 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Kymera Therapeutics by 506.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock valued at $40,000 after acquiring an additional 770 shares during the period. Osaic Holdings Inc. boosted its position in Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock worth $48,000 after purchasing an additional 1,083 shares during the period. State of Wyoming acquired a new stake in Kymera Therapeutics in the 4th quarter valued at $45,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Kymera Therapeutics in the 4th quarter valued at $55,000.

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.