Kymera Therapeutics (NASDAQ:KYMR) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note published on Monday morning, MarketBeat reports. The brokerage issued an outperform rating and a $53.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. Truist Financial boosted their price objective on Kymera Therapeutics from $41.00 to $54.00 and gave the stock a buy rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upped their price target on Kymera Therapeutics from $34.00 to $47.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Wolfe Research initiated coverage on Kymera Therapeutics in a research report on Thursday, February 15th. They set a peer perform rating on the stock. Stifel Nicolaus upped their price target on Kymera Therapeutics from $35.00 to $55.00 and gave the company a buy rating in a research report on Friday, February 23rd. Finally, Piper Sandler increased their target price on Kymera Therapeutics from $39.00 to $56.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $41.20.

Kymera Therapeutics Trading Up 1.1 %

KYMR stock opened at $34.35 on Monday. The stock’s fifty day simple moving average is $39.12 and its two-hundred day simple moving average is $28.18. Kymera Therapeutics has a 1-year low of $9.60 and a 1-year high of $45.31. The stock has a market cap of $2.10 billion, a P/E ratio of -13.63 and a beta of 2.27.

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, topping the consensus estimate of ($0.44) by $0.19. Kymera Therapeutics had a negative return on equity of 34.83% and a negative net margin of 187.00%. The business had revenue of $47.90 million for the quarter, compared to analysts’ expectations of $41.94 million. During the same quarter in the previous year, the firm earned ($0.60) earnings per share. The business’s revenue was up 197.5% on a year-over-year basis. As a group, analysts forecast that Kymera Therapeutics will post -3.13 earnings per share 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 Kymera Therapeutics 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 owns 4,925,812 shares in the company, valued at $211,071,044.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Bruce N. Jacobs sold 3,934 shares of Kymera Therapeutics stock in a transaction on Monday, March 4th. The shares were sold at an average price of $41.86, for a total value of $164,677.24. Following the sale, the chief financial officer now owns 142,351 shares in the company, valued at $5,958,812.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Venture Fund X. L.P. Atlas sold 42,302 shares of Kymera Therapeutics stock in a transaction on Monday, March 11th. The shares were sold at an average price of $42.85, for a total transaction of $1,812,640.70. Following the completion of the sale, the insider now owns 4,925,812 shares in the company, valued at approximately $211,071,044.20. The disclosure for this sale can be found here. Insiders have sold a total of 474,051 shares of company stock worth $19,624,211 over the last quarter. Corporate insiders own 16.67% of the company’s stock.

Institutional Trading of Kymera Therapeutics

A number of hedge funds have recently modified their holdings of the business. Congress Asset Management Co. MA boosted its holdings in shares of Kymera Therapeutics by 1.2% during the 1st quarter. Congress Asset Management Co. MA now owns 45,836 shares of the company’s stock valued at $1,843,000 after buying an additional 533 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kymera Therapeutics by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 3,997,564 shares of the company’s stock valued at $101,778,000 after buying an additional 72,351 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Kymera Therapeutics by 229.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 674,655 shares of the company’s stock valued at $17,177,000 after buying an additional 469,947 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Kymera Therapeutics by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,335,712 shares of the company’s stock valued at $135,848,000 after buying an additional 278,287 shares in the last quarter. Finally, BVF Inc. IL boosted its holdings in shares of Kymera Therapeutics by 8.9% during the 4th quarter. BVF Inc. IL now owns 5,161,801 shares of the company’s stock valued at $131,419,000 after buying an additional 422,797 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.