Kymera Therapeutics, Inc. (NASDAQ:KYMR) Stock Has Average Price Target of $134.68 According to Brokerages

Kymera Therapeutics, Inc. (NASDAQ:KYMR) has been assigned a consensus rating of “Moderate Buy” from the twenty-seven research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $134.68.

Several equities research analysts recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Kymera Therapeutics in a research report on Wednesday, August 5th. Piper Sandler reiterated an “overweight” rating and set a $140.00 target price on shares of Kymera Therapeutics in a report on Wednesday, September 23rd. B. Riley Financial increased their target price on Kymera Therapeutics from $117.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Wolfe Research raised Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Thursday, September 10th. Finally, BTIG Research restated a “buy” rating and issued a $134.00 price target on shares of Kymera Therapeutics in a report on Thursday, June 25th.

Insider Transactions at Kymera Therapeutics

In related news, insider Brian Adams sold 6,371 shares of Kymera Therapeutics stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $116.83, for a total value of $744,323.93. Following the sale, the insider owned 50,254 shares of the company’s stock, valued at approximately $5,871,174.82. This trade represents a 11.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $113.80, for a total value of $3,414,000.00. Following the completion of the sale, the chief executive officer owned 666,568 shares in the company, valued at $75,855,438.40. The trade was a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.98% of the stock is currently owned by company insiders.

Institutional Trading of Kymera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in KYMR. Baker BROS. Advisors LP lifted its position in shares of Kymera Therapeutics by 30.2% in the fourth quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company’s stock worth $673,620,000 after purchasing an additional 2,005,813 shares in the last quarter. Avoro Capital Advisors LLC grew its position in Kymera Therapeutics by 17.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company’s stock valued at $581,610,000 after purchasing an additional 1,124,747 shares in the last quarter. BlackRock Inc. acquired a new stake in Kymera Therapeutics in the 2nd quarter valued at $635,067,000. Merck & Co. Inc. acquired a new stake in Kymera Therapeutics in the 2nd quarter valued at $88,544,161. Finally, Jennison Associates LLC increased its stake in Kymera Therapeutics by 2.5% in the 1st quarter. Jennison Associates LLC now owns 508,999 shares of the company’s stock valued at $42,395,000 after buying an additional 12,334 shares during the last quarter.

Kymera Therapeutics Stock Performance

KYMR stock traded down $3.36 during mid-day trading on Friday, hitting $104.78. 488,724 shares of the company were exchanged, compared to its average volume of 915,832. The firm has a market cap of $8.71 billion, a P/E ratio of -32.34 and a beta of 1.98. The firm’s 50 day simple moving average is $115.19 and its 200 day simple moving average is $101.02. Kymera Therapeutics has a 1-year low of $55.26 and a 1-year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $65.00 million for the quarter, compared to analyst estimates of $32.78 million. During the same quarter in the previous year, the firm posted ($0.95) earnings per share. The business’s revenue was up 465.2% on a year-over-year basis. On average, equities research analysts predict that Kymera Therapeutics will post -3.85 EPS for the current fiscal year.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively remove disease-causing proteins from cells. The company uses its targeted protein degradation platform, including molecular glue degraders, to address proteins that may be difficult to inhibit with conventional small-molecule drugs.

Kymera’s research and development activities center on immune-inflammatory diseases and cancer. Its pipeline has included investigational degraders designed to target proteins such as interleukin-1 receptor-associated kinase 4 (IRAK4) and signal transducer and activator of transcription 6 (STAT6), with the goal of treating conditions involving abnormal immune signaling.