Oppenheimer Begins Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Oppenheimer began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $53.00 price objective on the stock.

Several other equities research analysts have also recently commented on KYMR. Truist Financial upped their price target on Kymera Therapeutics from $41.00 to $54.00 and gave the stock a buy rating in a research note on Friday, March 1st. Piper Sandler increased their price objective on Kymera Therapeutics from $39.00 to $56.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. Bank of America cut Kymera Therapeutics from a buy rating to a neutral rating and cut their price objective for the stock from $45.00 to $30.00 in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. increased their price objective on Kymera Therapeutics from $34.00 to $47.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus increased their price objective on Kymera Therapeutics from $35.00 to $55.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Kymera Therapeutics has an average rating of Moderate Buy and a consensus price target of $41.20.

Kymera Therapeutics Trading Down 1.4 %

KYMR stock opened at $35.21 on Monday. The company has a market capitalization of $2.15 billion, a P/E ratio of -13.97 and a beta of 2.27. Kymera Therapeutics has a twelve month low of $9.60 and a twelve month high of $45.31. The business has a 50 day simple moving average of $39.10 and a 200-day simple moving average of $28.37.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.19. The business had revenue of $47.90 million during 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 company’s revenue was up 197.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.60) earnings per share. Research analysts predict that Kymera Therapeutics will post -3.13 EPS for the current fiscal year.

Insider Transactions at Kymera Therapeutics

In other news, Director Bruce Booth sold 71,764 shares of Kymera Therapeutics stock in a transaction on Friday, March 15th. The stock was sold at an average price of $40.46, for a total transaction of $2,903,571.44. Following the completion of the transaction, the director now owns 806,697 shares of the company’s stock, valued at approximately $32,638,960.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Bruce Booth sold 71,764 shares of Kymera Therapeutics stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $40.46, for a total transaction of $2,903,571.44. Following the completion of the sale, the director now owns 806,697 shares in the company, valued at approximately $32,638,960.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Bruce N. Jacobs sold 3,934 shares of Kymera Therapeutics stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $41.86, for a total value of $164,677.24. Following the sale, the chief financial officer now owns 142,351 shares of the company’s stock, valued at approximately $5,958,812.86. The disclosure for this sale can be found here. Insiders 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 insiders.

Institutional Trading of Kymera Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in Kymera Therapeutics by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,335,712 shares of the company’s stock valued at $135,848,000 after buying an additional 278,287 shares during the period. BVF Inc. IL grew its holdings in Kymera Therapeutics by 8.9% in the 4th quarter. BVF Inc. IL now owns 5,161,801 shares of the company’s stock valued at $131,419,000 after buying an additional 422,797 shares during the period. Vanguard Group Inc. grew its holdings in Kymera Therapeutics by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,997,564 shares of the company’s stock valued at $101,778,000 after buying an additional 72,351 shares during the period. Rock Springs Capital Management LP grew its holdings in Kymera Therapeutics by 1.1% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,504,351 shares of the company’s stock valued at $20,910,000 after buying an additional 16,800 shares during the period. Finally, FMR LLC grew its holdings in Kymera Therapeutics by 3.9% in the 3rd quarter. FMR LLC now owns 870,547 shares of the company’s stock valued at $12,101,000 after buying an additional 32,335 shares during the period.

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.