Kymera Therapeutics (NASDAQ:KYMR) Upgraded to "Buy" at Bank of America

Bank of America upgraded shares of Kymera Therapeutics (NASDAQ:KYMR - Free Report) from a neutral rating to a buy rating in a report published on Monday, MarketBeat.com reports. Bank of America currently has $51.00 price target on the stock.

Several other analysts have also issued reports on the stock. HC Wainwright raised their price target on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Stifel Nicolaus assumed coverage on Kymera Therapeutics in a research report on Tuesday, May 20th. They set a "buy" rating and a $55.00 target price on the stock. Wall Street Zen raised Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup initiated coverage on Kymera Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $52.00 price objective for the company. Finally, Guggenheim restated a "buy" rating and set a $52.00 price objective on shares of Kymera Therapeutics in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.35.

Kymera Therapeutics Trading Up 1.6%

NASDAQ:KYMR traded up $0.68 during mid-day trading on Monday, hitting $44.26. 1,144,630 shares of the company's stock traded hands, compared to its average volume of 605,505. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -18.91 and a beta of 2.07. The firm has a 50 day moving average of $29.40 and a two-hundred day moving average of $35.71. 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 results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, topping analysts' consensus estimates of ($0.92) by $0.10. The company had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company's quarterly revenue was up 114.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.69) earnings per share. As a group, equities research analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Elena Ridloff sold 12,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $46.10, for a total value of $553,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey W. Albers sold 6,349 shares of Kymera Therapeutics stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $311,101.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,349 shares of company stock worth $2,334,301. Company insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Kymera Therapeutics by 74.8% during the 4th quarter. Blue Trust Inc. now owns 631 shares of the company's stock worth $25,000 after acquiring an additional 270 shares during the last quarter. State of Wyoming acquired a new position in shares of Kymera Therapeutics in the fourth quarter valued at $45,000. GF Fund Management CO. LTD. acquired a new position in shares of Kymera Therapeutics in the fourth quarter valued at $55,000. KBC Group NV raised its position in shares of Kymera Therapeutics by 53.8% in the fourth quarter. KBC Group NV now owns 2,151 shares of the company's stock valued at $87,000 after purchasing an additional 752 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Kymera Therapeutics during the 1st quarter worth about $68,000.

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.