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

Bank of America upgraded shares of Kymera Therapeutics (NASDAQ:KYMR - Free Report) from a neutral rating to a buy rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have $51.00 price target on the stock.

A number of other research analysts have also recently weighed in on the stock. UBS Group dropped their price objective on shares of Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Citigroup assumed coverage on shares of Kymera Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $52.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Kymera Therapeutics in a research note on Tuesday, May 20th. They issued a "buy" rating and a $55.00 price target for the company. Wall Street Zen raised Kymera Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Guggenheim reiterated a "buy" rating and issued a $52.00 target price on shares of Kymera Therapeutics in a report on Monday, May 12th. Two investment 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.82.

Kymera Therapeutics Stock Performance

Shares of KYMR traded down $0.04 during midday trading on Monday, hitting $47.62. 985,412 shares of the stock were exchanged, compared to its average volume of 610,442. Kymera Therapeutics has a 52-week low of $19.45 and a 52-week high of $53.27. The stock has a fifty day simple moving average of $29.81 and a 200 day simple moving average of $35.74. The firm has a market cap of $3.10 billion, a P/E ratio of -20.35 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating analysts' consensus estimates of ($0.92) by $0.10. The company had revenue of $22.10 million during the quarter, compared to analysts' expectations of $11.38 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. Kymera Therapeutics's revenue for the quarter was up 114.6% on a year-over-year basis. During the same period last year, the business posted ($0.69) EPS. As a group, equities research analysts forecast that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In related news, Director Elena Ridloff sold 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total transaction of $553,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nello Mainolfi sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $1,470,000.00. Following the completion of the sale, the chief executive officer now owns 660,482 shares of the company's stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 over the last 90 days. Corporate insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in KYMR. Wellington Management Group LLP grew its stake in shares of Kymera Therapeutics by 13.0% in the 1st quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock valued at $164,134,000 after purchasing an additional 689,547 shares during the last quarter. Avoro Capital Advisors LLC grew its position in Kymera Therapeutics by 14.4% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company's stock valued at $207,184,000 after buying an additional 650,000 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in Kymera Therapeutics in the 4th quarter valued at $23,856,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 worth $24,535,000 after buying an additional 491,737 shares during the last quarter. Finally, Boxer Capital Management LLC purchased a new position in Kymera Therapeutics during the 4th quarter worth $17,098,000.

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.