Kymera Therapeutics (NASDAQ:KYMR) Research Coverage Started at Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note published on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $70.00 target price on the stock.

A number of other research analysts also recently weighed in on KYMR. JPMorgan Chase & Co. increased their price target on Kymera Therapeutics from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Oppenheimer reissued an “outperform” rating and issued a $53.00 target price (down previously from $56.00) on shares of Kymera Therapeutics in a research note on Friday, June 27th. Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Kymera Therapeutics in a report on Tuesday, June 3rd. HC Wainwright restated a “buy” rating and set a $60.00 target price (up from $54.00) on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Finally, Bank of America upgraded shares of Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Kymera Therapeutics presently has a consensus rating of “Buy” and an average price target of $59.95.

Kymera Therapeutics Trading Up 6.3%

Shares of NASDAQ KYMR opened at $51.16 on Tuesday. Kymera Therapeutics has a 1 year low of $19.44 and a 1 year high of $53.27. The firm’s 50-day moving average is $43.75 and its 200-day moving average is $37.75. The firm has a market capitalization of $3.66 billion, a PE ratio of -14.74 and a beta of 2.17.

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

Insider Activity at Kymera Therapeutics

In related news, Director Bvf Partners L. P/Il purchased 317,167 shares of the business’s stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $44.00 per share, with a total value of $13,955,348.00. Following the completion of the purchase, the director owned 2,798,795 shares in the company, valued at $123,146,980. This represents a 12.78% increase in their position. The acquisition was disclosed in a filing with the SEC, 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 stock was bought at an average price of $44.00 per share, with a total value of $28,842,000.00. Following the acquisition, the director directly owned 6,117,295 shares of the company’s stock, valued at approximately $269,160,980. This trade represents a 12.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Siren L.L.C. raised its stake in shares of Kymera Therapeutics by 9.1% in the 1st quarter. Siren L.L.C. now owns 3,240,313 shares of the company’s stock valued at $88,687,000 after purchasing an additional 270,580 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Kymera Therapeutics during the fourth quarter worth about $344,000. GAMMA Investing LLC grew its holdings in shares of Kymera Therapeutics by 3,851.5% during the first quarter. GAMMA Investing LLC now owns 6,678 shares of the company’s stock worth $183,000 after buying an additional 6,509 shares in the last quarter. Rhumbline Advisers raised its position in Kymera Therapeutics by 9.0% in the 1st quarter. Rhumbline Advisers now owns 69,928 shares of the company’s stock valued at $1,914,000 after buying an additional 5,771 shares during the last quarter. Finally, Millennium Management LLC raised its position in Kymera Therapeutics by 205.0% in the 4th quarter. Millennium Management LLC now owns 115,918 shares of the company’s stock valued at $4,663,000 after buying an additional 77,912 shares during 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.