Kymera Therapeutics (NASDAQ:KYMR) Given Buy Rating at BTIG Research

Key Points

• BTIG Research reaffirmed its buy rating on Kymera Therapeutics and set a $134 price target, implying about 14% upside from the current price.
• The stock surged 17.4% to $117.25 on heavy volume, moving close to its 52-week high of $130.05.
• Kymera recently beat quarterly expectations, reporting a smaller-than-expected loss and revenue of $34.37 million, well above analyst forecasts.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at BTIG Research in a report released on Thursday,Benzinga reports. They currently have a $134.00 target price on the stock. BTIG Research's price objective points to a potential upside of 14.29% from the company's current price.

Several other equities research analysts have also recently weighed in on the stock. Brookline Capital Markets reiterated a "buy" rating on shares of Kymera Therapeutics in a research report on Monday, June 8th. Stephens lifted their price target on shares of Kymera Therapeutics from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Monday, March 2nd. UBS Group boosted their price objective on Kymera Therapeutics from $90.00 to $128.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Piper Sandler raised their price objective on shares of Kymera Therapeutics from $125.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Kymera Therapeutics in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.14.

Kymera Therapeutics Trading Up 17.4%

Kymera Therapeutics stock traded up $17.38 during midday trading on Thursday, reaching $117.25. The company's stock had a trading volume of 2,320,086 shares, compared to its average volume of 712,601. The stock has a market cap of $9.64 billion, a PE ratio of -32.89 and a beta of 2.02. Kymera Therapeutics has a 52 week low of $36.65 and a 52 week high of $130.05. The business has a 50-day moving average price of $83.90 and a 200-day moving average price of $81.77.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.71) EPS for the quarter, beating analysts' consensus estimates of ($0.89) by $0.18. The company had revenue of $34.37 million during the quarter, compared to analysts' expectations of $8.27 million. Kymera Therapeutics had a negative return on equity of 24.71% and a negative net margin of 611.94%.Kymera Therapeutics's revenue was up 55.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.82) EPS. As a group, research analysts predict that Kymera Therapeutics will post -3.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Noah Goodman sold 8,264 shares of the company's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $87.50, for a total value of $723,100.00. Following the transaction, the insider owned 53,542 shares of the company's stock, valued at approximately $4,684,925. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bruce Booth sold 246,330 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $98.52, for a total value of $24,268,431.60. Following the completion of the transaction, the director owned 617,663 shares in the company, valued at $60,852,158.76. This represents a 28.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 630,876 shares of company stock valued at $58,863,238 over the last three months. Insiders own 15.98% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KYMR. Baker BROS. Advisors LP boosted its holdings in Kymera Therapeutics by 30.2% during the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company's stock valued at $673,620,000 after acquiring an additional 2,005,813 shares during the period. Avoro Capital Advisors LLC increased its holdings in Kymera Therapeutics by 17.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company's stock valued at $581,610,000 after purchasing an additional 1,124,747 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Kymera Therapeutics by 20.8% in 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. Vanguard Group Inc. boosted its holdings in Kymera Therapeutics by 15.6% in the fourth quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company's stock valued at $487,685,000 after acquiring an additional 845,922 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in Kymera Therapeutics during the 3rd quarter valued at $47,563,000.

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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