Kymera Therapeutics (NASDAQ:KYMR) Upgraded by Mizuho to “Strong-Buy” Rating

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

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley started coverage on Kymera Therapeutics in a report on Thursday, July 3rd. They issued an “overweight” rating and a $70.00 price target on the stock. Barclays assumed coverage on Kymera Therapeutics in a report on Wednesday, September 17th. They set an “overweight” rating and a $60.00 target price on the stock. Jefferies Financial Group set a $64.00 target price on Kymera Therapeutics and gave the company a “buy” rating in a report on Wednesday, June 25th. BTIG Research increased their target price on Kymera Therapeutics from $59.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Truist Financial increased their target price on Kymera Therapeutics from $53.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $64.45.

Kymera Therapeutics Stock Down 4.3%

Shares of NASDAQ KYMR opened at $55.80 on Monday. The stock has a market cap of $3.99 billion, a PE ratio of -16.08 and a beta of 2.26. Kymera Therapeutics has a 52-week low of $19.44 and a 52-week high of $63.96. The business has a 50-day moving average price of $49.96 and a 200 day moving average price of $41.97.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Monday, August 11th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). The firm had revenue of $11.48 million during the quarter, compared to analyst estimates of $17.37 million. Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The firm’s revenue for the quarter was down 55.1% compared to the same quarter last year. During the same period last year, the company earned ($0.58) earnings per share. Sell-side analysts anticipate that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $59.19, for a total transaction of $295,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jared Gollob sold 59,576 shares of Kymera Therapeutics stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $61.42, for a total value of $3,659,157.92. Following the sale, the insider directly owned 109,992 shares in the company, valued at approximately $6,755,708.64. The trade was a 35.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,910 shares of company stock valued at $9,572,948 in the last three months. 16.01% of the stock is owned by insiders.

Institutional Trading of Kymera Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Kymera Therapeutics by 642.9% in the second quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock valued at $27,000 after acquiring an additional 540 shares during the period. PNC Financial Services Group Inc. boosted its stake in Kymera Therapeutics by 506.6% in the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock valued at $40,000 after acquiring an additional 770 shares during the period. Osaic Holdings Inc. boosted its stake in Kymera Therapeutics by 18,050.0% in the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock valued at $48,000 after acquiring an additional 1,083 shares during the period. Raymond James Financial Inc. acquired a new position in Kymera Therapeutics in the second quarter valued at approximately $73,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Kymera Therapeutics in the first quarter valued at approximately $68,000.

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.