Kymera Therapeutics, Inc. (NASDAQ:KYMR) Receives $131.62 Consensus Price Target from Analysts

Kymera Therapeutics, Inc. (NASDAQ:KYMR) has been assigned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $131.6250.

KYMR has been the topic of several analyst reports. B. Riley Financial boosted their target price on Kymera Therapeutics from $117.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Royal Bank Of Canada downgraded Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $106.00 to $115.00 in a report on Monday, July 13th. TD Cowen raised Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Barclays lifted their price target on Kymera Therapeutics from $133.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group upped their price target on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, June 26th.

Insider Activity

In related news, CFO Bruce N. Jacobs sold 77,109 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $114.96, for a total value of $8,864,450.64. Following the transaction, the chief financial officer directly owned 244,883 shares of the company’s stock, valued at approximately $28,151,749.68. This represents a 23.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce Booth sold 467,878 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $110.29, for a total value of $51,602,264.62. Following the sale, the director owned 472,267 shares in the company, valued at approximately $52,086,327.43. This represents a 49.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,362,132 shares of company stock valued at $365,904,088 over the last ninety days. 15.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Kymera Therapeutics in the 2nd quarter worth approximately $635,067,000. Baker BROS. Advisors LP grew its holdings in Kymera Therapeutics by 30.2% during the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company’s stock valued at $673,620,000 after buying an additional 2,005,813 shares in the last quarter. Avoro Capital Advisors LLC grew its holdings in Kymera Therapeutics by 17.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company’s stock valued at $581,610,000 after buying an additional 1,124,747 shares in the last quarter. Merck & Co. Inc. bought a new stake in shares of Kymera Therapeutics during the second quarter valued at approximately $88,544,161. Finally, Bank of America Corp DE bought a new stake in shares of Kymera Therapeutics during the second quarter valued at approximately $43,378,000.

Kymera Therapeutics Price Performance

Shares of NASDAQ KYMR opened at $118.48 on Tuesday. Kymera Therapeutics has a 1 year low of $47.90 and a 1 year high of $130.05. The stock has a market capitalization of $9.85 billion, a P/E ratio of -36.57 and a beta of 1.96. The company’s 50-day moving average is $114.39 and its 200 day moving average is $96.70.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The business had revenue of $65.00 million during the quarter, compared to analyst estimates of $32.78 million. During the same period last year, the business posted ($0.95) earnings per share. Kymera Therapeutics’s quarterly revenue was up 465.2% compared to the same quarter last year. Research analysts anticipate that Kymera Therapeutics will post -3.83 earnings per share for the current year.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively remove disease-causing proteins from cells. The company’s approach is based on targeted protein degradation, which uses small-molecule degraders to direct unwanted proteins to the cell’s natural disposal system rather than simply blocking their activity.

Kymera’s research and development activities are supported by its proprietary Pegasus platform, which is designed to identify degradable proteins and create drug candidates against them.