Kymera Therapeutics (NASDAQ:KYMR) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note released on Wednesday, MarketBeat reports. The firm issued an overweight rating and a $60.00 price target on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research report on Tuesday, June 3rd. BTIG Research reaffirmed a “buy” rating and set a $59.00 price target on shares of Kymera Therapeutics in a research report on Thursday, June 26th. The Goldman Sachs Group raised shares of Kymera Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $53.00 price target (down from $56.00) on shares of Kymera Therapeutics in a research report on Friday, June 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Kymera Therapeutics has a consensus rating of “Buy” and a consensus price target of $59.42.

Kymera Therapeutics Stock Down 1.4%

Shares of NASDAQ KYMR opened at $48.12 on Wednesday. Kymera Therapeutics has a 52-week low of $19.44 and a 52-week high of $53.27. The firm has a fifty day moving average of $43.63 and a 200-day moving average of $37.61. The stock has a market capitalization of $3.44 billion, a PE ratio of -13.87 and a beta of 2.17.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.The business had revenue of $11.48 million for the quarter, compared to analysts’ expectations of $17.37 million. During the same period last year, the company posted ($0.58) earnings per share. The firm’s revenue for the quarter was down 55.1% on a year-over-year basis. Equities research analysts expect that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In related news, Director Bvf Partners L. P/Il purchased 317,167 shares of Kymera Therapeutics stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $44.00 per share, with a total value of $13,955,348.00. Following the completion of the transaction, the director owned 2,798,795 shares of the company’s stock, valued at approximately $123,146,980. This trade represents a 12.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 655,500 shares of Kymera Therapeutics stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following the transaction, the director directly owned 6,117,295 shares of the company’s stock, valued at approximately $269,160,980. The trade was a 12.00% increase in their position. 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

Several institutional investors and hedge funds have recently bought and sold shares of KYMR. Farther Finance Advisors LLC raised its stake in Kymera Therapeutics by 642.9% during the second quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock worth $27,000 after acquiring an additional 540 shares during the period. PNC Financial Services Group Inc. raised its stake in Kymera Therapeutics by 506.6% during the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock worth $40,000 after acquiring an additional 770 shares during the period. State of Wyoming acquired a new stake in Kymera Therapeutics during the fourth quarter worth about $45,000. Osaic Holdings Inc. raised its stake in Kymera Therapeutics by 18,050.0% during the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock worth $48,000 after acquiring an additional 1,083 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in Kymera Therapeutics during the fourth quarter worth about $55,000.

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.