Kymera Therapeutics (NASDAQ:KYMR) Upgraded by B. Riley to “Buy” Rating

B. Riley upgraded shares of Kymera Therapeutics (NASDAQ:KYMR) from a neutral rating to a buy rating in a report issued on Tuesday, Marketbeat.com reports. They currently have $60.00 price target on the stock, up from their previous price target of $38.00.

KYMR has been the subject of several other research reports. Bank of America upgraded Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday. Citigroup assumed coverage on Kymera Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective for the company. HC Wainwright upped their price objective on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 28th. Morgan Stanley upgraded Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $49.00 to $79.00 in a report on Tuesday. Finally, Wall Street Zen upgraded Kymera Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.35.

Kymera Therapeutics Stock Up 1.0%

Shares of Kymera Therapeutics stock opened at $43.58 on Tuesday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -18.62 and a beta of 2.18. The business has a fifty day simple moving average of $29.11 and a 200-day simple moving average of $35.65. Kymera Therapeutics has a fifty-two week low of $19.45 and a fifty-two week high of $53.27.

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

Insider Activity at Kymera Therapeutics

In related news, Director Jeffrey W. Albers sold 6,349 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $311,101.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nello Mainolfi sold 30,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $1,470,000.00. Following the transaction, the chief executive officer now directly owns 660,482 shares in the company, valued at $32,363,618. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,349 shares of company stock valued at $2,334,301. Company insiders own 16.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KYMR. Blue Trust Inc. raised its position in Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company’s stock valued at $25,000 after buying an additional 270 shares during the period. KBC Group NV raised its position in Kymera Therapeutics by 53.8% during the fourth quarter. KBC Group NV now owns 2,151 shares of the company’s stock valued at $87,000 after buying an additional 752 shares during the period. Rhumbline Advisers raised its position in Kymera Therapeutics by 3.0% during the fourth quarter. Rhumbline Advisers now owns 64,157 shares of the company’s stock valued at $2,581,000 after buying an additional 1,861 shares during the period. Bank of New York Mellon Corp increased its position in Kymera Therapeutics by 4.5% in the 4th quarter. Bank of New York Mellon Corp now owns 127,093 shares of the company’s stock worth $5,113,000 after purchasing an additional 5,448 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Kymera Therapeutics by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company’s stock worth $15,577,000 after purchasing an additional 20,346 shares during the last quarter.

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.