Kymera Therapeutics (NASDAQ:KYMR) Coverage Initiated by Analysts at Barclays

Key Points

• Analysts at Barclays initiated coverage of Kymera Therapeutics with an "overweight" rating, highlighting positive market sentiment towards the stock.
• Kymera Therapeutics' recent earnings report revealed a loss of ($0.95) EPS and significantly lower revenue, missing analyst expectations.
• The stock has seen a significant price movement, with KYMR trading up 3.8% to $49.93 recently, reflecting heightened trading activity and investor interest.

Barclays assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR - Free Report) in a research note released on Tuesday, MarketBeat reports. The firm issued an overweight rating and a $60.00 target price on the stock.

KYMR has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on Kymera Therapeutics from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Wall Street Zen cut Kymera Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Bank of America upgraded Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 target price on the stock in a research report on Monday, June 2nd. Morgan Stanley started coverage on Kymera Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $70.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $59.95.

Kymera Therapeutics Price Performance

NASDAQ KYMR traded up $1.87 on Tuesday, hitting $51.00. 730,910 shares of the company's stock were exchanged, compared to its average volume of 789,971. The firm's 50-day moving average price is $43.97 and its two-hundred day moving average price is $38.08. Kymera Therapeutics has a fifty-two week low of $19.44 and a fifty-two week high of $53.27. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -14.70 and a beta of 2.17.

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). Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.The business had revenue of $11.48 million for the quarter, compared to analyst estimates of $17.37 million. During the same quarter in the previous year, the firm posted ($0.58) EPS. The business's revenue for the quarter was down 55.1% on a year-over-year basis. 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, CEO Nello Mainolfi sold 30,000 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the completion of the transaction, the chief executive officer owned 660,482 shares of the company's stock, valued at approximately $32,363,618. This trade represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bros. Advisors Lp Baker purchased 655,500 shares of the company's stock in a transaction on 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 directly 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. Company insiders own 16.01% of the company's stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds have recently bought and sold shares of KYMR. Commodore Capital LP purchased a new position in Kymera Therapeutics during the second quarter worth $32,730,000. Wellington Management Group LLP increased its position in Kymera Therapeutics by 13.0% during the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock worth $164,134,000 after buying an additional 689,547 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 worth $24,535,000 after buying an additional 491,737 shares in the last quarter. Millennium Management LLC increased its position in Kymera Therapeutics by 340.4% during the first quarter. Millennium Management LLC now owns 510,480 shares of the company's stock worth $13,972,000 after buying an additional 394,562 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in Kymera Therapeutics by 272.7% during the second quarter. Frontier Capital Management Co. LLC now owns 491,810 shares of the company's stock worth $21,463,000 after buying an additional 359,847 shares in the last quarter.

Kymera Therapeutics Company Profile

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.