Kymera Therapeutics (NASDAQ:KYMR) Upgraded at TD Cowen

Kymera Therapeutics (NASDAQ:KYMR) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on KYMR. Mizuho increased their target price on Kymera Therapeutics from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Canaccord Genuity Group raised their price target on Kymera Therapeutics from $106.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Morgan Stanley reissued an “overweight” rating and issued a $135.00 price target on shares of Kymera Therapeutics in a report on Thursday, August 6th. BTIG Research restated a “buy” rating and issued a $134.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, June 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Kymera Therapeutics in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.65.

Kymera Therapeutics Trading Up 1.0%

Shares of KYMR opened at $121.05 on Monday. Kymera Therapeutics has a 12-month low of $39.84 and a 12-month high of $130.05. The stock has a market cap of $10.07 billion, a P/E ratio of -37.36 and a beta of 1.95. The company has a 50-day moving average of $110.13 and a two-hundred day moving average of $92.46.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The business had revenue of $65.00 million for the quarter, compared to analyst estimates of $32.78 million. During the same period in the prior year, the business earned ($0.95) earnings per share. The company’s quarterly revenue was up 465.2% on a year-over-year basis. As a group, analysts forecast that Kymera Therapeutics will post -3.75 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In related news, CFO Bruce N. Jacobs sold 77,109 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total value of $8,864,450.64. Following the completion of the sale, the chief financial officer directly owned 244,883 shares in the company, valued at approximately $28,151,749.68. The trade was a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the completion of the sale, the director owned 240,123 shares of the company’s stock, valued at approximately $25,573,099.50. The trade was a 86.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,591,908 shares of company stock worth $386,532,863. 15.98% of the stock is owned by insiders.

Institutional Trading of Kymera Therapeutics

Several institutional investors have recently made changes to their positions in KYMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Kymera Therapeutics by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,793 shares of the company’s stock valued at $849,000 after acquiring an additional 1,833 shares during the period. Millennium Management LLC raised its holdings in shares of Kymera Therapeutics by 340.4% in the 1st quarter. Millennium Management LLC now owns 510,480 shares of the company’s stock worth $13,972,000 after purchasing an additional 394,562 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kymera Therapeutics by 121.5% in the 1st 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 purchasing an additional 491,737 shares during the period. Invesco Ltd. lifted its stake in shares of Kymera Therapeutics by 13.8% in the 2nd quarter. Invesco Ltd. now owns 47,884 shares of the company’s stock valued at $2,090,000 after purchasing an additional 5,809 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Kymera Therapeutics in the 2nd quarter valued at about $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.