Oppenheimer Begins Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Equities researchers at Oppenheimer initiated coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $53.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 56.02% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Kymera Therapeutics from $34.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Piper Sandler upped their price target on shares of Kymera Therapeutics from $39.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Wolfe Research assumed coverage on shares of Kymera Therapeutics in a research note on Thursday, February 15th. They issued a “peer perform” rating on the stock. Bank of America cut shares of Kymera Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $45.00 to $30.00 in a research note on Wednesday, January 3rd. Finally, Stifel Nicolaus upped their price target on shares of Kymera Therapeutics from $35.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Kymera Therapeutics has an average rating of “Moderate Buy” and an average price target of $41.20.

Kymera Therapeutics Trading Down 3.3 %

Shares of KYMR stock opened at $33.97 on Monday. Kymera Therapeutics has a 12 month low of $9.60 and a 12 month high of $45.31. The stock has a market cap of $2.08 billion, a PE ratio of -13.48 and a beta of 2.27. The company’s fifty day moving average price is $39.16 and its 200-day moving average price is $28.05.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, February 22nd. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.19. Kymera Therapeutics had a negative net margin of 187.00% and a negative return on equity of 34.83%. The firm had revenue of $47.90 million for the quarter, compared to analysts’ expectations of $41.94 million. During the same quarter in the previous year, the business posted ($0.60) EPS. The company’s quarterly revenue was up 197.5% on a year-over-year basis. On average, sell-side analysts forecast that Kymera Therapeutics will post -3.13 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Venture Fund X. L.P. Atlas sold 42,302 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $42.85, for a total transaction of $1,812,640.70. Following the completion of the sale, the insider now owns 4,925,812 shares of the company’s stock, valued at approximately $211,071,044.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kymera Therapeutics news, major shareholder Venture Fund X. L.P. Atlas sold 42,302 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $42.85, for a total transaction of $1,812,640.70. Following the sale, the insider now owns 4,925,812 shares in the company, valued at approximately $211,071,044.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Albers sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $30.05, for a total transaction of $300,500.00. The disclosure for this sale can be found here. Insiders sold 484,051 shares of company stock valued at $19,924,711 in the last quarter. 16.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KYMR. State Street Corp raised its stake in Kymera Therapeutics by 67.8% during the 2nd quarter. State Street Corp now owns 3,514,438 shares of the company’s stock worth $69,199,000 after acquiring an additional 1,419,877 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Kymera Therapeutics by 34.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,224,686 shares of the company’s stock valued at $102,874,000 after buying an additional 1,329,481 shares in the last quarter. Wellington Management Group LLP grew its holdings in Kymera Therapeutics by 19.7% during the 1st quarter. Wellington Management Group LLP now owns 3,225,749 shares of the company’s stock valued at $136,514,000 after buying an additional 530,935 shares in the last quarter. Norges Bank purchased a new stake in Kymera Therapeutics during the 4th quarter valued at approximately $12,834,000. Finally, Goldman Sachs Group Inc. grew its holdings in Kymera Therapeutics by 229.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 674,655 shares of the company’s stock valued at $17,177,000 after buying an additional 469,947 shares in the last quarter.

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.