Kymera Therapeutics, Inc. (NASDAQ:KYMR) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Kymera Therapeutics has a “Moderate Buy” consensus rating: 20 of 23 analysts rate the stock a buy, with an average 12-month price target of $125.65.
• Recent financial results exceeded expectations: The company reported quarterly revenue of $65 million, up 465.2% year over year, and an adjusted loss of $0.62 per share versus the $0.71 expected loss.
• Insiders have been selling shares while institutions increased holdings: Insiders sold approximately $387.6 million worth of stock over the past 90 days, while major investors including BlackRock, Baker Bros. Advisors and Vanguard expanded or initiated positions.

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-three ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $125.6522.

A number of brokerages recently commented on KYMR. Oppenheimer reissued an "outperform" rating and issued a $125.00 price objective on shares of Kymera Therapeutics in a research note on Wednesday, August 5th. Bank of America increased their target price on Kymera Therapeutics from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Wall Street Zen upgraded Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Loop Capital set a $97.00 price target on Kymera Therapeutics in a research report on Monday, June 8th. Finally, Brookline Capital Markets restated a "buy" rating on shares of Kymera Therapeutics in a research note on Monday, June 8th.

Insider Buying and Selling

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 80,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 666,568 shares of the company's stock, valued at approximately $76,848,624.72. This represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce N. Jacobs sold 77,109 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total transaction of $8,864,450.64. Following the completion of the sale, the chief financial officer owned 244,883 shares in the company, valued at $28,151,749.68. This represents a 23.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,604,813 shares of company stock worth $387,557,004 over the last ninety days. 15.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Kymera Therapeutics during the second quarter worth $635,067,000. Baker BROS. Advisors LP boosted its position in shares of Kymera Therapeutics by 30.2% in the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company's stock worth $673,620,000 after purchasing an additional 2,005,813 shares in the last quarter. Avoro Capital Advisors LLC boosted its position in shares of Kymera Therapeutics by 17.7% in the 4th quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company's stock worth $581,610,000 after purchasing an additional 1,124,747 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Kymera Therapeutics by 20.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,159,335 shares of the company's stock worth $479,258,000 after buying an additional 1,061,957 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Kymera Therapeutics by 15.6% during the 4th quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company's stock worth $487,685,000 after buying an additional 845,922 shares during the last quarter.

Kymera Therapeutics Price Performance

KYMR stock opened at $121.50 on Friday. The business has a 50-day moving average price of $108.75 and a 200 day moving average price of $91.84. The company has a market capitalization of $10.10 billion, a P/E ratio of -37.50 and a beta of 1.95. Kymera Therapeutics has a 1-year low of $39.84 and a 1-year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly earnings data 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 net margin of 285.33% and a negative return on equity of 21.22%. The company had revenue of $65.00 million during the quarter, compared to analyst estimates of $32.78 million. During the same period in the prior year, the firm earned ($0.95) earnings per share. The firm's revenue for the quarter was up 465.2% compared to the same quarter last year. On average, analysts anticipate that Kymera Therapeutics will post -3.75 earnings per share for the current fiscal year.

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.

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