Kymera Therapeutics (NASDAQ:KYMR) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have a $60.00 price target on the stock, up from their previous price target of $54.00.

Several other equities research analysts have also recently weighed in on the company. Citigroup assumed coverage on Kymera Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective for the company. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a report on Tuesday, June 3rd. Bank of America upgraded shares of Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, June 2nd. B. Riley upgraded Kymera Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $38.00 to $60.00 in a research note on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Kymera Therapeutics from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.78.

Kymera Therapeutics Stock Performance

Shares of NASDAQ KYMR opened at $45.71 on Thursday. The business’s 50-day simple moving average is $36.72 and its 200-day simple moving average is $35.87. Kymera Therapeutics has a 52 week low of $19.45 and a 52 week high of $53.27. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -14.75 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.10. The business had revenue of $22.10 million during the quarter, compared to the consensus estimate of $11.38 million. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. Kymera Therapeutics’s quarterly revenue was up 114.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.69) EPS. As a group, equities research analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey W. Albers sold 6,349 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $311,101.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the sale, the chief executive officer now directly owns 660,482 shares of the company’s stock, valued at approximately $32,363,618. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,349 shares of company stock valued at $2,334,301 in the last 90 days. 16.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in Kymera Therapeutics by 3.0% in the fourth quarter. Rhumbline Advisers now owns 64,157 shares of the company’s stock worth $2,581,000 after purchasing an additional 1,861 shares during the period. Bank of New York Mellon Corp lifted its holdings in Kymera Therapeutics by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 127,093 shares of the company’s stock worth $5,113,000 after acquiring an additional 5,448 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Kymera Therapeutics by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company’s stock valued at $15,577,000 after acquiring an additional 20,346 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Kymera Therapeutics by 174.2% in the fourth quarter. Victory Capital Management Inc. now owns 19,899 shares of the company’s stock worth $801,000 after acquiring an additional 12,643 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Kymera Therapeutics by 15.5% during the fourth quarter. Arizona State Retirement System now owns 11,221 shares of the company’s stock worth $451,000 after purchasing an additional 1,503 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.