Citigroup Raises Kymera Therapeutics (NASDAQ:KYMR) Price Target to $120.00

Kymera Therapeutics (NASDAQ:KYMR) had its target price hoisted by research analysts at Citigroup from $110.00 to $120.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 33.19% from the stock’s previous close.

A number of other equities analysts have also weighed in on KYMR. Leerink Partners increased their target price on Kymera Therapeutics from $70.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, December 8th. Oppenheimer increased their price objective on Kymera Therapeutics from $67.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. HC Wainwright boosted their target price on shares of Kymera Therapeutics from $84.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Wall Street Zen upgraded shares of Kymera Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, BTIG Research lowered their price target on shares of Kymera Therapeutics from $138.00 to $134.00 and set a “buy” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $117.60.

Kymera Therapeutics Stock Down 1.4%

Shares of NASDAQ:KYMR traded down $1.26 during midday trading on Monday, reaching $90.10. The company had a trading volume of 528,585 shares, compared to its average volume of 792,196. The business’s 50 day moving average price is $78.52 and its 200 day moving average price is $65.62. The stock has a market cap of $7.36 billion, a PE ratio of -24.48 and a beta of 2.20. Kymera Therapeutics has a 1-year low of $19.44 and a 1-year high of $103.00.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.20). Kymera Therapeutics had a negative return on equity of 28.71% and a negative net margin of 794.04%.The firm had revenue of $2.87 million for the quarter, compared to the consensus estimate of $14.80 million. During the same period last year, the company posted ($0.88) earnings per share. The business’s revenue was down 60.8% compared to the same quarter last year. On average, research analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce Booth sold 229,809 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $91.73, for a total value of $21,080,379.57. Following the sale, the director directly owned 686,477 shares in the company, valued at $62,970,535.21. This represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 2,005,813 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were purchased at an average price of $86.00 per share, with a total value of $172,499,918.00. Following the completion of the transaction, the director owned 7,955,916 shares of the company’s stock, valued at $684,208,776. This trade represents a 33.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 450,895 shares of company stock worth $40,486,151 in the last ninety days. Insiders own 16.01% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in Kymera Therapeutics by 382.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock valued at $42,000 after buying an additional 424 shares during the period. Larson Financial Group LLC grew its stake in shares of Kymera Therapeutics by 81.5% in the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock worth $44,000 after buying an additional 349 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Kymera Therapeutics during the fourth quarter valued at $63,000. PNC Financial Services Group Inc. lifted its stake in shares of Kymera Therapeutics by 506.6% in the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock worth $40,000 after buying an additional 770 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Kymera Therapeutics by 652.0% in the 3rd quarter. Bessemer Group Inc. now owns 940 shares of the company’s stock valued at $53,000 after acquiring an additional 815 shares in the last quarter.

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.