Mizuho Begins Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Research analysts at Mizuho began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note issued on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $81.00 price target on the stock. Mizuho’s price target would indicate a potential upside of 45.16% from the company’s previous close.

A number of other analysts have also recently issued reports on KYMR. Wall Street Zen cut Kymera Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. The Goldman Sachs Group raised Kymera Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 15th. Morgan Stanley assumed coverage on Kymera Therapeutics in a research note on Thursday, July 3rd. They issued an “overweight” rating and a $70.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Kymera Therapeutics in a report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their target price on shares of Kymera Therapeutics from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.45.

Kymera Therapeutics Stock Performance

Shares of KYMR opened at $55.80 on Tuesday. The company has a market capitalization of $3.99 billion, a PE ratio of -16.08 and a beta of 2.26. The company’s 50 day moving average price is $49.96 and its 200 day moving average price is $41.97. Kymera Therapeutics has a 52 week low of $19.44 and a 52 week high of $63.96.

Kymera Therapeutics (NASDAQ:KYMR) last issued its 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). Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The company had revenue of $11.48 million for the quarter, compared to analyst estimates of $17.37 million. During the same period last year, the business earned ($0.58) EPS. The company’s quarterly revenue was down 55.1% on a year-over-year basis. On average, equities analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Nello Mainolfi sold 30,000 shares of the business’s 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 sale, the chief executive officer directly owned 660,482 shares in the company, valued at approximately $32,363,618. The trade was a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jared Gollob sold 59,576 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $61.42, for a total value of $3,659,157.92. Following the sale, the insider directly owned 109,992 shares of the company’s stock, valued at $6,755,708.64. The trade was a 35.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,910 shares of company stock valued at $9,572,948 over the last 90 days. 16.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV raised its holdings in Kymera Therapeutics by 15.2% in the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after acquiring an additional 328 shares during the period. Neo Ivy Capital Management bought a new position in shares of Kymera Therapeutics in the first quarter worth about $395,000. GSA Capital Partners LLP increased its stake in shares of Kymera Therapeutics by 6.8% in the first quarter. GSA Capital Partners LLP now owns 31,537 shares of the company’s stock worth $863,000 after purchasing an additional 1,997 shares during the period. Vanguard Group Inc. lifted its position in shares of Kymera Therapeutics by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company’s stock worth $143,183,000 after purchasing an additional 344,080 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Kymera Therapeutics by 36.9% during the 1st quarter. Invesco Ltd. now owns 42,075 shares of the company’s stock valued at $1,152,000 after purchasing an additional 11,343 shares during the period.

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.