Kymera Therapeutics, Inc. (NASDAQ:KYMR) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Kymera Therapeutics holds a “Moderate Buy” consensus from 25 analysts, with 21 buy ratings, one strong buy, two holds, and one sell. The average 12-month price target is $131.63 versus a recent share price of $114.63.
• The company reported stronger-than-expected quarterly results, including an adjusted loss of $0.62 per share versus the $0.71 expected and revenue of $65 million, up 465.2% year over year.
• Insiders sold heavily in the last quarter, disposing of 3.594 million shares worth approximately $386.9 million, while major investors including BlackRock and Merck established significant new positions.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-five ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $131.6250.

Several research analysts have weighed in on the company. Barclays increased their price objective on Kymera Therapeutics from $133.00 to $139.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Truist Financial upped their price target on shares of Kymera Therapeutics from $116.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Kymera Therapeutics in a research note on Friday, July 17th. Citigroup reaffirmed a "buy" rating on shares of Kymera Therapeutics in a research report on Thursday, August 6th. Finally, B. Riley Financial lifted their price objective on shares of Kymera Therapeutics from $117.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, June 29th.

Insider Buying and Selling at Kymera Therapeutics

In other news, CEO Nello Mainolfi sold 80,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $115.29, for a total transaction of $9,223,200.00. Following the transaction, the chief executive officer directly owned 666,568 shares of the company's stock, valued at approximately $76,848,624.72. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of Kymera Therapeutics stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the completion of the sale, the director owned 240,123 shares of the company's stock, valued at approximately $25,573,099.50. The trade was a 86.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,594,000 shares of company stock worth $386,928,106. 15.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Merck & Co. Inc. acquired a new stake in shares of Kymera Therapeutics in the 2nd quarter valued at $88,544,161. Deutsche Bank AG acquired a new position in shares of Kymera Therapeutics during the 2nd quarter worth $12,161,000. Eagle Health Investments LP acquired a new position in shares of Kymera Therapeutics during the 2nd quarter worth $19,052,000. BlackRock Inc. bought a new stake in shares of Kymera Therapeutics during the 2nd quarter worth $635,067,000. Finally, Maven Securities LTD bought a new position in Kymera Therapeutics in the 4th quarter valued at approximately $1,167,000.

Kymera Therapeutics Stock Down 0.3%

Shares of NASDAQ:KYMR opened at $114.63 on Tuesday. Kymera Therapeutics has a 12-month low of $46.25 and a 12-month high of $130.05. The business has a 50 day moving average of $114.48 and a 200-day moving average of $96.20. The stock has a market cap of $9.53 billion, a PE ratio of -35.38 and a beta of 1.96.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $65.00 million for the quarter, compared to analyst estimates of $32.78 million. During the same quarter last year, the company earned ($0.95) earnings per share. The firm's quarterly revenue was up 465.2% compared to the same quarter last year. Equities research analysts expect that Kymera Therapeutics will post -3.83 earnings per share for the current year.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively remove disease-causing proteins from cells. The company's approach is based on targeted protein degradation, which uses small-molecule degraders to direct unwanted proteins to the cell's natural disposal system rather than simply blocking their activity.

Kymera's research and development activities are supported by its proprietary Pegasus platform, which is designed to identify degradable proteins and create drug candidates against them.

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