Kymera Therapeutics (NASDAQ:KYMR) Coverage Initiated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada initiated coverage on Kymera Therapeutics (NASDAQ:KYMR) with an "outperform" rating and a price target of $70.00, indicating a potential upside of 48.05%.
• Kymera's recent earnings report showed a missed EPS estimate of ($0.95) compared to a consensus of ($0.83), highlighting a 55.1% decrease in revenue year-over-year.
• Insider transactions have seen significant purchases, including Director Bvf Partners acquiring 317,167 shares at an average price of $44.00 per share, increasing their holdings by 12.78%.

Investment analysts at Royal Bank Of Canada assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $70.00 price target on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 48.05% from the stock's current price.

Several other research firms have also issued reports on KYMR. Wall Street Zen lowered Kymera Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. B. Riley raised Kymera Therapeutics to a "strong-buy" rating and set a $60.00 price objective on the stock in a research note on Wednesday, July 30th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Tuesday, June 3rd. Bank of America raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price objective on the stock in a research note on Monday, June 2nd. Finally, Wells Fargo & Company reduced their price objective on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Kymera Therapeutics has a consensus rating of "Buy" and an average target price of $59.39.

Kymera Therapeutics Stock Performance

KYMR opened at $47.28 on Tuesday. The firm has a market cap of $3.38 billion, a P/E ratio of -13.63 and a beta of 2.17. Kymera Therapeutics has a 52-week low of $19.44 and a 52-week high of $53.27. The business's fifty day moving average is $43.47 and its 200-day moving average is $37.45.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The company had revenue of $11.48 million for the quarter, compared to analyst estimates of $17.37 million. Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.The business's revenue for the quarter was down 55.1% compared to the same quarter last year. During the same period last year, the company posted ($0.58) earnings per share. On average, research analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Transactions at Kymera Therapeutics

In other Kymera Therapeutics news, Director Bvf Partners L. P/Il bought 317,167 shares of the stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $44.00 per share, for a total transaction of $13,955,348.00. Following the completion of the acquisition, the director owned 2,798,795 shares in the company, valued at $123,146,980. This trade represents a 12.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker bought 655,500 shares of the stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $44.00 per share, with a total value of $28,842,000.00. Following the completion of the acquisition, the director owned 6,117,295 shares of the company's stock, valued at $269,160,980. This represents a 12.00% increase in their position. The disclosure for this purchase can be found here. 16.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of hedge funds have recently added to or reduced their stakes in KYMR. Commodore Capital LP acquired a new stake in Kymera Therapeutics in the second quarter valued at approximately $32,730,000. Wellington Management Group LLP boosted its position in shares of Kymera Therapeutics by 13.0% during the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock valued at $164,134,000 after buying an additional 689,547 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Kymera Therapeutics by 121.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock valued at $24,535,000 after buying an additional 491,737 shares during the last quarter. Millennium Management LLC boosted its position in shares of Kymera Therapeutics by 340.4% during the first quarter. Millennium Management LLC now owns 510,480 shares of the company's stock valued at $13,972,000 after buying an additional 394,562 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Kymera Therapeutics by 272.7% during the second quarter. Frontier Capital Management Co. LLC now owns 491,810 shares of the company's stock valued at $21,463,000 after buying an additional 359,847 shares during the last quarter.

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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