Kymera Therapeutics, Inc. (NASDAQ:KYMR) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Kymera Therapeutics, Inc. (NASDAQ:KYMR) has earned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, twenty-three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $139.16.

KYMR has been the subject of several analyst reports. Loop Capital set a $132.00 price target on shares of Kymera Therapeutics in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Kymera Therapeutics in a research report on Thursday, July 30th. They issued a “hold” rating and a $120.00 price objective on the stock. BTIG Research increased their target price on Kymera Therapeutics from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Barclays lifted their target price on Kymera Therapeutics from $139.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Finally, TD Cowen upgraded Kymera Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th.

Insider Activity

In related news, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $113.80, for a total value of $3,414,000.00. Following the completion of the sale, the chief executive officer directly owned 666,568 shares in the company, valued at approximately $75,855,438.40. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Adams sold 6,371 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $116.83, for a total transaction of $744,323.93. Following the transaction, the insider directly owned 50,254 shares of the company’s stock, valued at $5,871,174.82. The trade was a 11.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 15.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Kymera Therapeutics in the 2nd quarter worth $635,067,000. Merck & Co. Inc. purchased a new stake in Kymera Therapeutics during the second quarter valued at $88,544,161. Bank of America Corp DE purchased a new stake in Kymera Therapeutics during the second quarter valued at $43,378,000. Braidwell LP increased its position in Kymera Therapeutics by 12.0% during the second quarter. Braidwell LP now owns 378,163 shares of the company’s stock valued at $43,364,000 after acquiring an additional 40,604 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Kymera Therapeutics by 2.5% in the first quarter. Jennison Associates LLC now owns 508,999 shares of the company’s stock valued at $42,395,000 after acquiring an additional 12,334 shares during the period.

Kymera Therapeutics Stock Performance

Shares of KYMR stock opened at $136.64 on Wednesday. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of -37.75 and a beta of 2.04. Kymera Therapeutics has a one year low of $60.25 and a one year high of $142.92. The company’s 50-day moving average is $116.45 and its 200 day moving average is $98.47.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, October 29th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.06). The firm had revenue of $1.35 million during the quarter, compared to analysts’ expectations of $3.28 million. Kymera Therapeutics had a negative return on equity of 22.39% and a negative net margin of 285.33%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted ($0.94) earnings per share. As a group, research analysts predict that Kymera Therapeutics will post -3.88 earnings per share for the current fiscal year.

About Kymera Therapeutics

Kymera Therapeutics, Inc. is a clinical-stage biotechnology company developing medicines that selectively remove disease-causing proteins from cells. Its approach, known as targeted protein degradation, uses the body’s natural protein-disposal system and is designed to address targets that may be difficult to reach with conventional drugs. The company’s research and development programs include small-molecule protein degraders for conditions involving immune and inflammatory pathways, as well as cancer.