Bank of America Lowers Kymera Therapeutics (NASDAQ:KYMR) Price Target to $44.00

Kymera Therapeutics (NASDAQ:KYMR) had its price objective lowered by Bank of America from $47.00 to $44.00 in a report published on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Citigroup initiated coverage on shares of Kymera Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $52.00 price target on the stock. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a report on Tuesday, January 21st. HC Wainwright raised their target price on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Guggenheim restated a “buy” rating and issued a $52.00 target price on shares of Kymera Therapeutics in a report on Monday. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.53.

Kymera Therapeutics Price Performance

Shares of NASDAQ KYMR opened at $32.17 on Monday. Kymera Therapeutics has a one year low of $19.45 and a one year high of $53.27. The firm’s 50 day simple moving average is $29.58 and its two-hundred day simple moving average is $37.41. The stock has a market capitalization of $2.09 billion, a P/E ratio of -13.75 and a beta of 2.18.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.10. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The business had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $11.38 million. During the same period last year, the business earned ($0.69) earnings per share. The business’s quarterly revenue was up 114.6% on a year-over-year basis. As a group, equities analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Kymera Therapeutics

In related news, COO Jeremy G. Chadwick sold 1,383 shares of Kymera Therapeutics stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $42,112.35. Following the sale, the chief operating officer now owns 67,800 shares in the company, valued at $2,064,510. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Bruce N. Jacobs sold 7,035 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $214,215.75. Following the transaction, the chief financial officer now directly owns 201,886 shares of the company’s stock, valued at $6,147,428.70. This represents a 3.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,659 shares of company stock worth $324,567 over the last quarter. Corporate insiders own 15.82% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Kymera Therapeutics during the first quarter valued at $3,920,000. Invesco Ltd. lifted its position in Kymera Therapeutics by 36.9% during the first quarter. Invesco Ltd. now owns 42,075 shares of the company’s stock valued at $1,152,000 after buying an additional 11,343 shares during the period. Vanguard Group Inc. lifted its position in Kymera Therapeutics by 7.0% during the first quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company’s stock valued at $143,183,000 after buying an additional 344,080 shares during the period. GSA Capital Partners LLP raised its position in shares of Kymera Therapeutics by 6.8% in the 1st quarter. GSA Capital Partners LLP now owns 31,537 shares of the company’s stock worth $863,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Kymera Therapeutics in the 1st quarter worth about $395,000.

Kymera Therapeutics Company Profile

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.