Kymera Therapeutics (NASDAQ:KYMR) Stock Picked Up by Analysts at Raymond James Financial

Equities research analysts at Raymond James Financial assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note issued on Thursday, MarketBeat reports. The brokerage set a “moderate buy” rating on the stock.

A number of other analysts have also issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Guggenheim raised their price objective on shares of Kymera Therapeutics from $135.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 31st. TD Cowen upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Mizuho upped their target price on shares of Kymera Therapeutics from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $135.00 target price on shares of Kymera Therapeutics in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.68.

Kymera Therapeutics Stock Up 2.8%

KYMR opened at $112.40 on Thursday. Kymera Therapeutics has a 52 week low of $55.26 and a 52 week high of $130.05. The business has a fifty day simple moving average of $114.90 and a 200-day simple moving average of $99.97. The firm has a market cap of $9.35 billion, a P/E ratio of -34.69 and a beta of 1.98.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.09. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%. 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 prior year, the company earned ($0.95) EPS. Kymera Therapeutics’s revenue was up 465.2% on a year-over-year basis. Sell-side analysts expect that Kymera Therapeutics will post -3.83 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In related news, insider Brian Adams sold 6,371 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $116.83, for a total value of $744,323.93. Following the completion of the transaction, the insider directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the sale, the chief executive officer directly owned 666,568 shares of the company’s stock, valued at approximately $75,855,438.40. This trade represents a 4.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 15.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in Kymera Therapeutics by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $52,000 after acquiring an additional 98 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Kymera Therapeutics by 56.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,285 shares of the company’s stock worth $107,000 after purchasing an additional 463 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Kymera Therapeutics during the 4th quarter valued at $198,000. Empowered Funds LLC bought a new position in shares of Kymera Therapeutics during the first quarter valued at about $203,000. Finally, Nykredit A S bought a new stake in shares of Kymera Therapeutics in the second quarter worth about $207,000.

About Kymera Therapeutics

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.