Kymera Therapeutics (NASDAQ:KYMR) Now Covered by Oppenheimer

Stock analysts at Oppenheimer initiated coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a report issued on Monday, MarketBeat.com reports. The firm set an “outperform” rating and a $53.00 price target on the stock. Oppenheimer’s target price suggests a potential upside of 48.42% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Truist Financial increased their price target on Kymera Therapeutics from $41.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their price target on Kymera Therapeutics from $34.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Bank of America downgraded Kymera Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $30.00 in a research note on Wednesday, January 3rd. Wolfe Research started coverage on Kymera Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating on the stock. Finally, Piper Sandler raised their price objective on Kymera Therapeutics from $39.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.20.

Kymera Therapeutics Stock Up 4.0 %

KYMR stock opened at $35.71 on Monday. The business’s fifty day moving average is $39.13 and its 200-day moving average is $28.33. The company has a market cap of $2.18 billion, a P/E ratio of -14.17 and a beta of 2.27. Kymera Therapeutics has a twelve month low of $9.60 and a twelve month high of $45.31.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.19. The company had revenue of $47.90 million for the quarter, compared to the consensus estimate of $41.94 million. Kymera Therapeutics had a negative return on equity of 34.83% and a negative net margin of 187.00%. The firm’s quarterly revenue was up 197.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.60) EPS. Research analysts anticipate that Kymera Therapeutics will post -3.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, major shareholder Venture Fund X. L.P. Atlas sold 42,302 shares of Kymera Therapeutics stock in a transaction dated Monday, March 11th. The stock was 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 of the company’s stock, valued at approximately $211,071,044.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bruce Booth sold 51,184 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $42.85, for a total value of $2,193,234.40. Following the completion of the transaction, the director now owns 881,266 shares in the company, valued at approximately $37,762,248.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Venture Fund X. L.P. Atlas sold 42,302 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 4,925,812 shares of the company’s stock, valued at approximately $211,071,044.20. The disclosure for this sale can be found here. Insiders have sold 474,051 shares of company stock valued at $19,624,211 in the last 90 days. 16.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Kymera Therapeutics during the fourth quarter worth about $12,834,000. Goldman Sachs Group Inc. grew its holdings in Kymera Therapeutics by 229.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 674,655 shares of the company’s stock worth $17,177,000 after purchasing an additional 469,947 shares during the period. BVF Inc. IL grew its holdings in Kymera Therapeutics by 8.9% during the fourth quarter. BVF Inc. IL now owns 5,161,801 shares of the company’s stock worth $131,419,000 after purchasing an additional 422,797 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Kymera Therapeutics by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,335,712 shares of the company’s stock worth $135,848,000 after purchasing an additional 278,287 shares during the period. Finally, Trexquant Investment LP bought a new position in Kymera Therapeutics during the fourth quarter worth about $5,183,000.

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.