Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $125.00 at Bank of America

Kymera Therapeutics (NASDAQ:KYMR) had its target price lifted by investment analysts at Bank of America from $110.00 to $125.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 7.79% from the company’s current price.

A number of other research firms have also commented on KYMR. Morgan Stanley restated an “overweight” rating and issued a $119.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, April 30th. Canaccord Genuity Group raised their price target on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the company a “buy” rating in a report on Friday. B. Riley Financial upped their price target on shares of Kymera Therapeutics from $117.00 to $155.00 and gave the stock a “buy” rating in a report on Monday. Citigroup increased their price objective on Kymera Therapeutics from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Brookline Capital Markets restated a “buy” rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.41.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock traded up $6.64 during trading hours on Tuesday, reaching $115.96. The company had a trading volume of 223,540 shares, compared to its average volume of 758,599. Kymera Therapeutics has a one year low of $36.65 and a one year high of $130.05. The firm has a market cap of $9.54 billion, a PE ratio of -32.47 and a beta of 2.02. The business has a fifty day simple moving average of $85.27 and a 200 day simple moving average of $82.38.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.18. Kymera Therapeutics had a negative return on equity of 24.71% and a negative net margin of 611.94%.The business had revenue of $34.37 million for the quarter, compared to analysts’ expectations of $8.27 million. During the same quarter in the prior year, the firm posted ($0.82) EPS. The firm’s quarterly revenue was up 55.5% on a year-over-year basis. On average, research analysts forecast that Kymera Therapeutics will post -3.28 EPS for the current year.

Insider Buying and Selling

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $81.18, for a total value of $2,435,400.00. Following the completion of the sale, the chief executive officer directly owned 666,195 shares of the company’s stock, valued at $54,081,710.10. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the sale, the director owned 240,123 shares of the company’s stock, valued at approximately $25,573,099.50. The trade was a 86.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,935,983 shares of company stock worth $310,618,303 in the last 90 days. 15.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KYMR. Smartleaf Asset Management LLC increased its stake in shares of Kymera Therapeutics by 382.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock worth $42,000 after buying an additional 424 shares during the period. Larson Financial Group LLC boosted its position in Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after buying an additional 349 shares during the period. Osaic Holdings Inc. boosted its position in Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock valued at $48,000 after buying an additional 1,083 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Kymera Therapeutics in the 4th quarter worth $63,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Kymera Therapeutics in the second quarter valued at about $73,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.