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

Key Points

• Kymera Therapeutics (NASDAQ:KYMR) has received a consensus recommendation of "Moderate Buy" from 22 research firms, with a 1-year price target averaging $65.45.
• CFO Bruce N. Jacobs and CEO Nello Mainolfi sold significant shares of the company, with Jacobs selling 79,220 shares and Mainolfi selling 30,000 shares, indicating a decrease in their ownership positions.
• The company reported disappointing earnings with a loss of ($0.95) per share, missing expectations and showing a revenue drop of 55.1% year-over-year.

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-two research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eighteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $65.45.

Several analysts have recently weighed in on KYMR shares. Wall Street Zen downgraded Kymera Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Morgan Stanley assumed coverage on Kymera Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $70.00 price objective for the company. BTIG Research upped their price objective on Kymera Therapeutics from $59.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday. Barclays assumed coverage on Kymera Therapeutics in a research note on Wednesday, September 17th. They set an "overweight" rating and a $60.00 price objective for the company. Finally, Truist Financial upped their price objective on Kymera Therapeutics from $53.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th.

Insider Buying and Selling

In other Kymera Therapeutics news, CFO Bruce N. Jacobs sold 79,220 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $50.00, for a total transaction of $3,961,000.00. Following the completion of the sale, the chief financial officer directly owned 227,409 shares of the company's stock, valued at $11,370,450. This represents a 25.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nello Mainolfi sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $49.00, for a total value of $1,470,000.00. Following the sale, the chief executive officer directly owned 660,482 shares of the company's stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,910 shares of company stock valued at $9,572,948 in the last quarter. 16.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV increased its position in Kymera Therapeutics by 15.2% during the 1st quarter. KBC Group NV now owns 2,479 shares of the company's stock worth $68,000 after purchasing an additional 328 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Kymera Therapeutics by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,516 shares of the company's stock worth $110,000 after purchasing an additional 343 shares during the period. Farther Finance Advisors LLC increased its position in Kymera Therapeutics by 642.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company's stock worth $27,000 after purchasing an additional 540 shares during the period. Comerica Bank increased its position in Kymera Therapeutics by 3.6% during the 1st quarter. Comerica Bank now owns 21,374 shares of the company's stock worth $585,000 after purchasing an additional 743 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Kymera Therapeutics by 506.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company's stock worth $40,000 after purchasing an additional 770 shares during the period.

Kymera Therapeutics Stock Performance

Kymera Therapeutics stock opened at $58.56 on Friday. Kymera Therapeutics has a fifty-two week low of $19.44 and a fifty-two week high of $63.96. The company has a market capitalization of $4.19 billion, a P/E ratio of -16.88 and a beta of 2.26. The stock has a 50-day simple moving average of $50.60 and a 200-day simple moving average of $42.48.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The firm had revenue of $11.48 million during the quarter, compared to analysts' expectations of $17.37 million. During the same period in the previous year, the firm posted ($0.58) earnings per share. The firm's revenue for the quarter was down 55.1% on a year-over-year basis. As a group, analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current year.

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.

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