Kymera Therapeutics (NASDAQ:KYMR) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note released on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $70.00 price objective on the stock.

A number of other brokerages also recently commented on KYMR. Wells Fargo & Company lowered their price objective on Kymera Therapeutics from $57.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, June 26th. JPMorgan Chase & Co. lifted their price target on Kymera Therapeutics from $57.00 to $64.00 and gave the company an “overweight” rating 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 target price for the company in a report on Monday, June 2nd. HC Wainwright restated a “buy” rating and issued a $60.00 target price (up from $54.00) on shares of Kymera Therapeutics in a report on Thursday, June 26th. Finally, The Goldman Sachs Group upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $59.39.

Kymera Therapeutics Stock Performance

KYMR stock opened at $48.78 on Tuesday. The stock has a market capitalization of $3.49 billion, a P/E ratio of -14.06 and a beta of 2.17. Kymera Therapeutics has a one year low of $19.44 and a one year high of $53.27. The company has a 50 day moving average price of $43.58 and a two-hundred day moving average price of $37.53.

Kymera Therapeutics (NASDAQ:KYMR) last released 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 firm had revenue of $11.48 million during 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%.The firm’s revenue was down 55.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.58) earnings per share. Research analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kymera Therapeutics news, Director Bros. Advisors Lp Baker bought 655,500 shares of the business’s stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $44.00 per share, with a total value of $28,842,000.00. Following the transaction, the director directly owned 6,117,295 shares in the company, valued at approximately $269,160,980. This trade represents a 12.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bvf Partners L. P/Il purchased 317,167 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $44.00 per share, for a total transaction of $13,955,348.00. Following the completion of the acquisition, the director directly owned 2,798,795 shares of the company’s stock, valued at $123,146,980. This represents a 12.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.01% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

A number of institutional investors have recently modified their holdings of the stock. KBC Group NV raised its stake in shares of Kymera Therapeutics by 15.2% in the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock valued at $68,000 after purchasing an additional 328 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kymera Therapeutics by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,516 shares of the company’s stock valued at $110,000 after acquiring an additional 343 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Kymera Therapeutics by 642.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock valued at $27,000 after acquiring an additional 540 shares in the last quarter. Comerica Bank raised its position in shares of Kymera Therapeutics by 3.6% during the 1st quarter. Comerica Bank now owns 21,374 shares of the company’s stock valued at $585,000 after acquiring an additional 743 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Kymera Therapeutics by 506.6% during 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 in the last quarter.

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.