Brokerages Set Kymera Therapeutics, Inc. (NASDAQ:KYMR) Price Target at $121.41

Kymera Therapeutics, Inc. (NASDAQ:KYMR) has received a consensus rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $121.4091.

KYMR has been the subject of a number of research analyst reports. Loop Capital set a $97.00 target price on shares of Kymera Therapeutics in a research note on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Tuesday, April 21st. Canaccord Genuity Group boosted their price objective on Kymera Therapeutics from $106.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Jefferies Financial Group initiated coverage on Kymera Therapeutics in a research note on Monday, March 16th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Truist Financial lifted their price target on Kymera Therapeutics from $116.00 to $136.00 and gave the company a “buy” rating in a report on Monday, June 29th.

Kymera Therapeutics Price Performance

Kymera Therapeutics stock opened at $117.14 on Thursday. The business has a 50 day simple moving average of $87.91 and a 200 day simple moving average of $83.32. The company has a market capitalization of $9.64 billion, a PE ratio of -32.70 and a beta of 1.95. Kymera Therapeutics has a one year low of $36.65 and a one year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, April 30th. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The company had revenue of $34.37 million for the quarter, compared to the consensus estimate of $8.27 million. During the same quarter in the previous year, the company earned ($0.82) EPS. The firm’s revenue for the quarter was up 55.5% compared to the same quarter last year. Equities analysts anticipate that Kymera Therapeutics will post -3.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Nello Mainolfi sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $115.29, for a total value of $9,223,200.00. Following the completion of the transaction, the chief executive officer owned 666,568 shares in the company, valued at $76,848,624.72. The trade was a 10.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $106.50, for a total value of $168,142,200.00. Following the transaction, the director directly owned 240,123 shares in the company, valued at approximately $25,573,099.50. This represents a 86.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,621,769 shares of company stock valued at $387,333,335 over the last quarter. Company insiders own 15.98% of the company’s stock.

Institutional Trading of Kymera Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KYMR. SG Americas Securities LLC raised its stake in shares of Kymera Therapeutics by 169.1% during the fourth quarter. SG Americas Securities LLC now owns 22,693 shares of the company’s stock worth $1,766,000 after buying an additional 14,261 shares during the last quarter. Hudson Bay Capital Management LP boosted its stake in Kymera Therapeutics by 362.7% in the third quarter. Hudson Bay Capital Management LP now owns 23,134 shares of the company’s stock valued at $1,309,000 after acquiring an additional 18,134 shares during the last quarter. Eagle Health Investments LP acquired a new stake in Kymera Therapeutics during the 4th quarter worth $10,606,000. Holocene Advisors LP acquired a new stake in Kymera Therapeutics during the 3rd quarter worth $47,563,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Kymera Therapeutics during the 4th quarter valued at $2,610,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.