Bank of America Forecasts Strong Price Appreciation for Kymera Therapeutics (NASDAQ:KYMR) Stock

Kymera Therapeutics (NASDAQ:KYMR) had its price target increased by investment analysts at Bank of America from $110.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 7.79% from the stock’s current price.

KYMR has been the topic of a number of other reports. BTIG Research reaffirmed a “buy” rating and issued a $134.00 price objective on shares of Kymera Therapeutics in a report on Thursday, June 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Tuesday, April 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $119.00 price target on shares of Kymera Therapeutics in a research report on Thursday, April 30th. Brookline Capital Markets reiterated a “buy” rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Finally, B. Riley Financial boosted their price objective on shares of Kymera Therapeutics from $117.00 to $155.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.41.

Kymera Therapeutics Stock Performance

Shares of KYMR stock traded up $6.64 during midday trading on Tuesday, hitting $115.96. 223,540 shares of the company were exchanged, compared to its average volume of 758,599. Kymera Therapeutics has a 52 week low of $36.65 and a 52 week high of $130.05. The firm has a market capitalization of $9.54 billion, a P/E ratio of -32.47 and a beta of 2.02. The firm’s 50 day moving average price is $85.27 and its two-hundred day moving average price is $82.38.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.18. The company had revenue of $34.37 million during the quarter, compared to analysts’ expectations of $8.27 million. Kymera Therapeutics had a negative return on equity of 24.71% and a negative net margin of 611.94%.The business’s revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) earnings per share. Analysts expect that Kymera Therapeutics will post -3.28 EPS for the current year.

Insider Buying and Selling

In other Kymera Therapeutics news, Director Bruce Booth sold 262,637 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $115.39, for a total value of $30,305,683.43. Following the sale, the director owned 564,668 shares in the company, valued at $65,157,040.52. This trade represents a 31.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Noah Goodman sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $114.00, for a total value of $570,000.00. Following the sale, the insider owned 50,195 shares in the company, valued at approximately $5,722,230. This trade represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,935,983 shares of company stock worth $310,618,303. Corporate insiders own 15.98% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its holdings in Kymera Therapeutics by 382.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock worth $42,000 after buying an additional 424 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Kymera Therapeutics by 81.5% in the third quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after acquiring an additional 349 shares in the last quarter. Osaic Holdings Inc. grew its stake in Kymera Therapeutics by 18,050.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock valued at $48,000 after purchasing an additional 1,083 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Kymera Therapeutics during the fourth quarter valued at about $63,000. Finally, Raymond James Financial Inc. bought a new position in shares of Kymera Therapeutics during the 2nd quarter valued at approximately $73,000.

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.