Kymera Therapeutics (NASDAQ:KYMR) Coverage Initiated at Oppenheimer

Oppenheimer began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note published on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $53.00 price objective on the stock.

A number of other brokerages have also issued reports on KYMR. Piper Sandler increased their price target on Kymera Therapeutics from $39.00 to $56.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Bank of America lowered Kymera Therapeutics from a buy rating to a neutral rating and decreased their price target for the company from $45.00 to $30.00 in a research note on Wednesday, January 3rd. Stifel Nicolaus increased their price target on Kymera Therapeutics from $35.00 to $55.00 and gave the company a buy rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on Kymera Therapeutics from $34.00 to $47.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Finally, Truist Financial increased their price target on Kymera Therapeutics from $41.00 to $54.00 and gave the company a buy rating in a research note on Friday, March 1st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $41.20.

Kymera Therapeutics Price Performance

Shares of KYMR stock opened at $34.35 on Monday. Kymera Therapeutics has a 12-month low of $9.60 and a 12-month high of $45.31. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -13.63 and a beta of 2.27. The business has a 50 day simple moving average of $39.12 and a 200 day simple moving average of $28.18.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.19. The business had revenue of $47.90 million during the quarter, compared to analyst estimates of $41.94 million. Kymera Therapeutics had a negative return on equity of 34.83% and a negative net margin of 187.00%. The business’s revenue for the quarter was up 197.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.60) EPS. On average, equities analysts anticipate that Kymera Therapeutics will post -3.13 EPS for the current fiscal year.

Insider Activity

In other news, CFO Bruce N. Jacobs sold 3,934 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $41.86, for a total value of $164,677.24. Following the completion of the sale, the chief financial officer now owns 142,351 shares in the company, valued at $5,958,812.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Bruce Booth sold 71,764 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $40.46, for a total value of $2,903,571.44. Following the completion of the sale, the director now owns 806,697 shares in the company, valued at $32,638,960.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce N. Jacobs sold 3,934 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $41.86, for a total value of $164,677.24. Following the completion of the sale, the chief financial officer now owns 142,351 shares of the company’s stock, valued at approximately $5,958,812.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 474,051 shares of company stock worth $19,624,211. Insiders own 16.67% of the company’s stock.

Institutional Trading of Kymera Therapeutics

Hedge funds have recently modified their holdings of the business. Quest Partners LLC purchased a new stake in shares of Kymera Therapeutics during the fourth quarter worth $78,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Kymera Therapeutics by 33.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,183 shares of the company’s stock worth $72,000 after acquiring an additional 1,310 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Kymera Therapeutics by 352.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,423 shares of the company’s stock worth $164,000 after acquiring an additional 5,002 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Kymera Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,359 shares of the company’s stock worth $187,000 after acquiring an additional 1,866 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Kymera Therapeutics during the fourth quarter worth $233,000.

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.