Kymera Therapeutics (NASDAQ:KYMR) Earns Buy Rating from Analysts at Citigroup

Equities research analysts at Citigroup began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note issued on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $52.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 48.15% from the company’s current price.

Several other equities research analysts have also weighed in on the company. BTIG Research initiated coverage on Kymera Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $60.00 target price for the company. HC Wainwright upped their price objective on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 28th. BMO Capital Markets assumed coverage on shares of Kymera Therapeutics in a report on Friday, December 6th. They issued a “market perform” rating and a $55.00 target price on the stock. Stephens restated an “overweight” rating and set a $60.00 price target on shares of Kymera Therapeutics in a report on Tuesday, January 21st. Finally, Wells Fargo & Company upgraded Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $38.00 to $57.00 in a research note on Monday, December 2nd. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.36.

Kymera Therapeutics Stock Up 5.5 %

Kymera Therapeutics stock opened at $35.10 on Thursday. Kymera Therapeutics has a 12 month low of $29.07 and a 12 month high of $53.27. The company’s fifty day simple moving average is $37.72 and its 200-day simple moving average is $43.02. The stock has a market cap of $2.28 billion, a P/E ratio of -15.00 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.12). The firm had revenue of $7.39 million during the quarter, compared to analyst estimates of $14.81 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. On average, equities research analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In related news, insider Ellen Chiniara sold 3,129 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $41.75, for a total transaction of $130,635.75. Following the completion of the transaction, the insider now owns 54,826 shares in the company, valued at $2,288,985.50. This trade represents a 5.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce N. Jacobs sold 7,035 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $214,215.75. Following the completion of the sale, the chief financial officer now owns 201,886 shares in the company, valued at $6,147,428.70. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,788 shares of company stock valued at $455,202 in the last 90 days. 15.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in KYMR. Blue Trust Inc. grew its stake in Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after buying an additional 270 shares during the last quarter. State of Wyoming acquired a new position in shares of Kymera Therapeutics in the 4th quarter worth approximately $45,000. GF Fund Management CO. LTD. bought a new stake in Kymera Therapeutics during the 4th quarter worth approximately $55,000. KBC Group NV grew its position in Kymera Therapeutics by 53.8% during the 4th quarter. KBC Group NV now owns 2,151 shares of the company’s stock worth $87,000 after acquiring an additional 752 shares during the last quarter. Finally, Quarry LP acquired a new stake in Kymera Therapeutics during the 3rd quarter valued at $95,000.

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.