Kymera Therapeutics (NASDAQ:KYMR) Earns Outperform Rating from Analysts 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%.

Royal Bank Of Canada initiated coverage on shares of Kymera Therapeutics (NASDAQ:KYMR - Free Report) in a research note published on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $70.00 target price on the stock.

KYMR has been the topic of a number of other reports. B. Riley upgraded shares of Kymera Therapeutics to a "strong-buy" rating and set a $60.00 price target on the stock in a research note on Wednesday, July 30th. Wall Street Zen lowered shares of Kymera Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Morgan Stanley initiated coverage on shares of Kymera Therapeutics in a report on Thursday, July 3rd. They issued an "overweight" rating and a $70.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Finally, Jefferies Financial Group set a $64.00 price objective on shares of Kymera Therapeutics and gave the company a "buy" rating in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Kymera Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $59.95.

Kymera Therapeutics Trading Down 4.0%

Kymera Therapeutics stock traded down $2.03 during trading hours on Tuesday, reaching $49.13. 2,555,812 shares of the stock were exchanged, compared to its average volume of 687,594. The stock has a 50 day moving average of $43.85 and a two-hundred day moving average of $37.88. Kymera Therapeutics has a twelve month low of $19.44 and a twelve month high of $53.27. The company has a market cap of $3.51 billion, a P/E ratio of -14.16 and a beta of 2.17.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $11.48 million during the quarter, compared to analyst estimates of $17.37 million. During the same quarter in the previous year, the business posted ($0.58) earnings per share. The company's revenue for the quarter was down 55.1% on a year-over-year basis. On average, analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other news, CFO Bruce N. Jacobs sold 79,220 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were 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 owned 227,409 shares of the company's stock, valued at $11,370,450. This trade represents a 25.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bros. Advisors Lp Baker acquired 655,500 shares of Kymera Therapeutics stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $44.00 per share, with a total value of $28,842,000.00. Following the transaction, the director owned 6,117,295 shares in the company, valued at approximately $269,160,980. This trade represents a 12.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.01% of the stock is currently owned by company insiders.

Institutional Trading of Kymera Therapeutics

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its position in shares of 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 buying an additional 540 shares during the period. PNC Financial Services Group Inc. grew its position in Kymera Therapeutics by 506.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company's stock valued at $40,000 after purchasing an additional 770 shares during the period. Osaic Holdings Inc. grew its position 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. State of Wyoming acquired a new stake in Kymera Therapeutics in the 4th quarter valued at $45,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Kymera Therapeutics in the 4th quarter valued at $55,000.

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.