Kymera Therapeutics (NASDAQ:KYMR) Now Covered by Raymond James Financial

Equities researchers at Raymond James Financial began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $140.00 price target on the stock. Raymond James Financial’s price objective indicates a potential upside of 24.56% from the company’s current price.

Several other brokerages also recently weighed in on KYMR. Truist Financial boosted their price objective on shares of Kymera Therapeutics from $116.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. B. Riley Financial boosted their target price on Kymera Therapeutics from $117.00 to $155.00 and gave the company a “buy” rating in a report on Monday, June 29th. Wells Fargo & Company upped their target price on shares of Kymera Therapeutics from $116.00 to $151.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Oppenheimer reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Kymera Therapeutics in a research report on Wednesday, August 5th. Finally, Citigroup lifted their price objective on shares of Kymera Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.68.

Kymera Therapeutics Price Performance

NASDAQ KYMR traded up $3.10 during trading hours on Thursday, hitting $112.40. 1,305,178 shares of the company’s stock traded hands, compared to its average volume of 852,260. Kymera Therapeutics has a 52-week low of $55.26 and a 52-week high of $130.05. The company has a market capitalization of $9.35 billion, a PE ratio of -34.69 and a beta of 1.98. The firm’s 50-day moving average is $114.90 and its 200-day moving average is $99.97.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The firm had revenue of $65.00 million during the quarter, compared to analysts’ expectations of $32.78 million. During the same quarter in the previous year, the business posted ($0.95) earnings per share. The business’s quarterly revenue was up 465.2% compared to the same quarter last year. Equities research analysts predict that Kymera Therapeutics will post -3.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, insider Brian Adams sold 6,371 shares of Kymera Therapeutics stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $116.83, for a total transaction of $744,323.93. Following the sale, the insider directly owned 50,254 shares in the company, valued at $5,871,174.82. The trade was a 11.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the completion of the sale, the chief executive officer owned 666,568 shares of the company’s stock, valued at approximately $75,855,438.40. This trade represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Kymera Therapeutics by 27.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $52,000 after buying an additional 98 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Kymera Therapeutics by 56.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,285 shares of the company’s stock worth $107,000 after buying an additional 463 shares during the period. Nykredit A S acquired a new position in Kymera Therapeutics during the second quarter valued at $207,000. DMC Group LLC acquired a new stake in shares of Kymera Therapeutics during the second quarter worth approximately $229,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in Kymera Therapeutics in the 2nd quarter worth approximately $264,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively remove disease-causing proteins from cells. The company uses its targeted protein degradation platform, including molecular glue degraders, to address proteins that may be difficult to inhibit with conventional small-molecule drugs.

Kymera’s research and development activities center on immune-inflammatory diseases and cancer. Its pipeline has included investigational degraders designed to target proteins such as interleukin-1 receptor-associated kinase 4 (IRAK4) and signal transducer and activator of transcription 6 (STAT6), with the goal of treating conditions involving abnormal immune signaling.