Kymera Therapeutics (NASDAQ:KYMR) Receives "Outperform" Rating from Oppenheimer

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report)'s stock had its "outperform" rating reiterated by Oppenheimer in a report released on Friday, MarketBeat Ratings reports. They presently have a $53.00 price target on the stock, down from their previous price target of $56.00. Oppenheimer's price target indicates a potential upside of 21.45% from the company's previous close.

A number of other research firms also recently weighed in on KYMR. Wells Fargo & Company dropped their target price on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. B. Riley raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the company from $38.00 to $60.00 in a research note on Tuesday, June 3rd. Guggenheim reissued a "buy" rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research note on Tuesday, June 3rd. Stifel Nicolaus started coverage on Kymera Therapeutics in a research note on Tuesday, May 20th. They issued a "buy" rating and a $55.00 target price for the company. Finally, Citigroup assumed coverage on Kymera Therapeutics in a research note on Thursday, March 13th. They issued a "buy" rating and a $52.00 target price for the company. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.61.

Kymera Therapeutics Trading Down 1.1%

Shares of NASDAQ:KYMR opened at $43.64 on Friday. Kymera Therapeutics has a 1-year low of $19.45 and a 1-year high of $53.27. The firm has a market capitalization of $2.84 billion, a PE ratio of -14.08 and a beta of 2.07. The business's 50 day moving average is $37.41 and its 200-day moving average is $35.77.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, topping 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 company had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. During the same quarter last year, the firm earned ($0.69) EPS. Kymera Therapeutics's revenue for the quarter was up 114.6% compared to the same quarter last year. On average, sell-side analysts predict that Kymera Therapeutics will post -2.79 EPS for the current year.

Insider Transactions at Kymera Therapeutics

In related news, Director Bros. Advisors Lp Baker purchased 655,500 shares of Kymera Therapeutics stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $44.00 per share, with a total value of $28,842,000.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the sale, the chief executive officer directly owned 660,482 shares in the company, valued at $32,363,618. This represents a 4.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,349 shares of company stock worth $2,334,301 in the last ninety days. 16.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP raised its position 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 worth $164,134,000 after acquiring an additional 689,547 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in 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 purchasing an additional 650,000 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Kymera Therapeutics in the 4th quarter worth approximately $23,856,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Kymera Therapeutics by 121.5% in 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 shares of Kymera Therapeutics in the 4th quarter worth approximately $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.