Brokerages Set Kymera Therapeutics, Inc. (NASDAQ:KYMR) Target Price at $59.95

Kymera Therapeutics, Inc. (NASDAQ:KYMR) has earned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $61.2632.

A number of equities research analysts have recently issued reports on KYMR shares. Wells Fargo & Company dropped their price target 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. Weiss Ratings restated a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Saturday, September 27th. BTIG Research restated a “buy” rating and issued a $59.00 price target on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Truist Financial upped their price target on Kymera Therapeutics from $53.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Finally, B. Riley upgraded Kymera Therapeutics to a “strong-buy” rating and set a $60.00 price target for the company in a research report on Wednesday, July 30th.

Insider Activity at Kymera Therapeutics

In related news, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the completion of the transaction, the chief executive officer directly owned 660,482 shares in the company, valued at approximately $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bruce N. Jacobs sold 79,220 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $50.00, for a total value of $3,961,000.00. Following the completion of the transaction, the chief financial officer owned 227,409 shares of the company’s stock, valued at $11,370,450. The trade was a 25.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KYMR. Commodore Capital LP purchased a new position in Kymera Therapeutics in the second quarter worth approximately $32,730,000. Wellington Management Group LLP grew its position in Kymera Therapeutics by 13.0% in the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company’s stock worth $164,134,000 after acquiring an additional 689,547 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kymera Therapeutics by 121.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company’s stock worth $24,535,000 after acquiring an additional 491,737 shares during the period. Millennium Management LLC boosted its position in shares of Kymera Therapeutics by 340.4% during the first quarter. Millennium Management LLC now owns 510,480 shares of the company’s stock worth $13,972,000 after buying an additional 394,562 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Kymera Therapeutics by 272.7% during the second quarter. Frontier Capital Management Co. LLC now owns 491,810 shares of the company’s stock worth $21,463,000 after buying an additional 359,847 shares during the period.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock opened at $57.55 on Tuesday. The business has a 50 day simple moving average of $45.94 and a two-hundred day simple moving average of $39.60. Kymera Therapeutics has a 12 month low of $19.44 and a 12 month high of $59.00. The stock has a market capitalization of $4.11 billion, a P/E ratio of -16.58 and a beta of 2.26.

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

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.