Kymera Therapeutics (NASDAQ:KYMR) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer started coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued an outperform rating and a $53.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Kymera Therapeutics from $35.00 to $55.00 and gave the company a buy rating in a report on Friday, February 23rd. Bank of America downgraded shares of Kymera Therapeutics from a buy rating to a neutral rating and lowered their target price for the company from $45.00 to $30.00 in a report on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their target price on shares of Kymera Therapeutics from $34.00 to $47.00 and gave the company an overweight rating in a report on Friday, February 23rd. Wolfe Research initiated coverage on shares of Kymera Therapeutics in a report on Thursday, February 15th. They issued a peer perform rating for the company. Finally, Truist Financial boosted their price objective on shares of Kymera Therapeutics from $41.00 to $54.00 and gave the stock a buy rating in a research note on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $41.20.

Kymera Therapeutics Trading Down 5.3 %

Shares of KYMR opened at $33.35 on Monday. The company has a 50-day moving average of $39.02 and a two-hundred day moving average of $28.41. The stock has a market cap of $2.04 billion, a P/E ratio of -13.23 and a beta of 2.27. Kymera Therapeutics has a 12-month low of $9.60 and a 12-month high of $45.31.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.25) earnings per share for the quarter, beating 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 net margin of 187.00% and a negative return on equity of 34.83%. The company’s revenue was up 197.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.60) earnings per share. As a group, analysts forecast that Kymera Therapeutics will post -3.15 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In related news, major shareholder Venture Fund X. L.P. Atlas sold 42,302 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $42.85, for a total value of $1,812,640.70. Following the sale, the insider now directly owns 4,925,812 shares of the company’s stock, valued at $211,071,044.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Kymera Therapeutics news, insider Jared Gollob sold 46,137 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $35.50, for a total transaction of $1,637,863.50. Following the sale, the insider now directly owns 74,709 shares of the company’s stock, valued at $2,652,169.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Venture Fund X. L.P. Atlas sold 42,302 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $42.85, for a total transaction of $1,812,640.70. Following the sale, the insider now directly owns 4,925,812 shares in the company, valued at $211,071,044.20. The disclosure for this sale can be found here. Insiders have sold 474,051 shares of company stock valued at $19,624,211 over the last ninety days. Corporate insiders own 16.67% of the company’s stock.

Institutional Trading of Kymera Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC acquired 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 purchasing an additional 1,310 shares during the period. 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 purchasing an additional 5,002 shares during the period. 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 purchasing an additional 1,866 shares during the period. Finally, Aigen Investment Management LP acquired 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.