Kymera Therapeutics’ (KYMR) “Buy” Rating Reiterated at BTIG Research

Kymera Therapeutics (NASDAQ:KYMR)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a report released on Thursday,Benzinga reports. They currently have a $134.00 target price on the stock. BTIG Research’s price objective would indicate a potential upside of 14.29% from the stock’s previous close.

KYMR has been the topic of several other reports. Piper Sandler upped their price objective on Kymera Therapeutics from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Citigroup increased their price objective on shares of Kymera Therapeutics from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Stephens raised their price target on Kymera Therapeutics from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. UBS Group raised their price objective on shares of Kymera Therapeutics from $90.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $108.00 price target on shares of Kymera Therapeutics in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.14.

Kymera Therapeutics Trading Up 17.4%

KYMR traded up $17.38 during midday trading on Thursday, reaching $117.25. The company’s stock had a trading volume of 2,320,086 shares, compared to its average volume of 712,601. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of -32.89 and a beta of 2.02. The stock’s 50-day moving average is $83.90 and its 200-day moving average is $81.77. Kymera Therapeutics has a 1 year low of $36.65 and a 1 year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results on Thursday, April 30th. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.18. The firm had revenue of $34.37 million for the quarter, compared to analysts’ expectations of $8.27 million. Kymera Therapeutics had a negative return on equity of 24.71% and a negative net margin of 611.94%.The company’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.82) earnings per share. As a group, equities research analysts forecast that Kymera Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Bruce Booth sold 246,330 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $98.52, for a total value of $24,268,431.60. Following the completion of the transaction, the director directly owned 617,663 shares in the company, valued at $60,852,158.76. This represents a 28.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nello Mainolfi sold 30,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $81.18, for a total transaction of $2,435,400.00. Following the transaction, the chief executive officer directly owned 666,195 shares of the company’s stock, valued at $54,081,710.10. The trade was a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 630,876 shares of company stock valued at $58,863,238. 15.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Kymera Therapeutics by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,793 shares of the company’s stock worth $849,000 after buying an additional 1,833 shares during the last quarter. Millennium Management LLC grew its position in Kymera Therapeutics by 340.4% in the first quarter. Millennium Management LLC now owns 510,480 shares of the company’s stock worth $13,972,000 after acquiring an additional 394,562 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Kymera Therapeutics by 121.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company’s stock worth $24,535,000 after acquiring an additional 491,737 shares during the last quarter. Invesco Ltd. increased its stake in Kymera Therapeutics by 13.8% during the second quarter. Invesco Ltd. now owns 47,884 shares of the company’s stock worth $2,090,000 after acquiring an additional 5,809 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in Kymera Therapeutics during the second quarter valued at approximately $265,000.

About Kymera Therapeutics

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.