Kymera Therapeutics (NASDAQ:KYMR) Rating Increased to Strong-Buy at The Goldman Sachs Group

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

KYMR has been the subject of several other research reports. Morgan Stanley began coverage on Kymera Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $70.00 price objective for the company. UBS Group decreased their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Oppenheimer reiterated an "outperform" rating and set a $53.00 price objective (down previously from $56.00) on shares of Kymera Therapeutics in a report on Friday, June 27th. JPMorgan Chase & Co. raised their target price on Kymera Therapeutics from $57.00 to $64.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Finally, Jefferies Financial Group set a $64.00 target price on Kymera Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $59.11.

Kymera Therapeutics Stock Performance

Kymera Therapeutics stock traded down $0.17 during mid-day trading on Tuesday, reaching $46.18. 501,454 shares of the company were exchanged, compared to its average volume of 617,754. The business has a fifty day moving average of $40.99 and a 200 day moving average of $36.24. The firm has a market cap of $3.01 billion, a P/E ratio of -14.90 and a beta of 2.18. Kymera Therapeutics has a 12-month low of $19.45 and a 12-month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. The firm had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. During the same quarter in the prior year, the business posted ($0.69) EPS. The business's revenue for the quarter was up 114.6% compared to the same quarter last year. Sell-side analysts predict that Kymera Therapeutics will post -2.79 EPS for the current year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Jeffrey W. Albers sold 6,349 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $311,101.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bros. Advisors Lp Baker purchased 655,500 shares of the business's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $44.00 per share, for a total transaction of $28,842,000.00. Following the completion of the transaction, the director directly owned 6,117,295 shares in the company, valued at $269,160,980. This trade represents a 12.00% increase in their position. The disclosure for this purchase can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 in the last three months. Company insiders own 16.01% of the company's stock.

Institutional Investors Weigh In On Kymera Therapeutics

A number of institutional investors have recently modified their holdings of KYMR. Wellington Management Group LLP grew its position in shares of Kymera Therapeutics by 13.0% during the 1st quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock valued at $164,134,000 after acquiring an additional 689,547 shares during the period. Avoro Capital Advisors LLC grew its position in shares of Kymera Therapeutics by 14.4% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company's stock valued at $207,184,000 after acquiring an additional 650,000 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of Kymera Therapeutics during the 4th quarter valued at about $23,856,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Kymera Therapeutics by 121.5% during the 1st 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 acquiring an additional 491,737 shares during the period. Finally, Boxer Capital Management LLC acquired a new stake in shares of Kymera Therapeutics during the 4th quarter valued at about $17,098,000.

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.