Kymera Therapeutics (NASDAQ:KYMR) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• Kymera Therapeutics has received a "Sell (D-)" rating from Weiss Ratings, indicating a negative outlook for the company's stock.
• Despite the sell rating, some analysts have issued positive assessments, with coverage from Barclays and B. Riley giving the stock an "overweight" and "strong-buy" rating, respectively, both targeting a price of $60.00.
• The company's recent quarterly results showed a significant earnings miss, reporting ($0.95) earnings per share against expectations of ($0.83) and a revenue decline of 55.1% year-over-year.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

KYMR has been the topic of a number of other research reports. Barclays started coverage on Kymera Therapeutics in a research note on Wednesday, September 17th. They set an "overweight" rating and a $60.00 price objective on the stock. B. Riley raised 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. Jefferies Financial Group set a $64.00 price target on Kymera Therapeutics and gave the company a "buy" rating in a research note on Wednesday, June 25th. Oppenheimer upped their price target on Kymera Therapeutics from $53.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Finally, Truist Financial upped their price target on Kymera Therapeutics from $53.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $61.26.

Kymera Therapeutics Stock Performance

NASDAQ KYMR opened at $56.29 on Wednesday. The stock's fifty day moving average is $46.45 and its two-hundred day moving average is $39.84. The firm has a market capitalization of $4.02 billion, a P/E ratio of -16.22 and a beta of 2.26. Kymera Therapeutics has a fifty-two week low of $19.44 and a fifty-two week high of $59.00.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly earnings data 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). 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 quarterly revenue was down 55.1% on a year-over-year basis. During the same period last year, the firm posted ($0.58) EPS. As a group, sell-side analysts forecast that Kymera Therapeutics will post -2.79 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In related news, CEO Nello Mainolfi sold 30,000 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the sale, the chief executive officer owned 660,482 shares in the company, valued at approximately $32,363,618. The trade was a 4.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bruce N. Jacobs sold 79,220 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $50.00, for a total value of $3,961,000.00. Following the completion of the sale, the chief financial officer owned 227,409 shares in the company, valued at $11,370,450. This represents a 25.84% decrease in their position. The disclosure for this sale can be found here. 16.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of KYMR. Farther Finance Advisors LLC raised its holdings in shares of Kymera Therapeutics by 642.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company's stock valued at $27,000 after buying an additional 540 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of 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 buying an additional 770 shares during the period. Osaic Holdings Inc. increased its holdings in Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock worth $48,000 after purchasing an additional 1,083 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Kymera Therapeutics during the 1st quarter worth about $68,000. Finally, KBC Group NV increased its holdings 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.

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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