Stifel Nicolaus Initiates Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Equities researchers at Stifel Nicolaus started coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $55.00 price target on the stock. Stifel Nicolaus’ target price suggests a potential upside of 82.54% from the company’s current price.

A number of other equities research analysts have also recently commented on KYMR. UBS Group dropped their target price on Kymera Therapeutics from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. HC Wainwright lifted their price objective on Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Bank of America lowered their price objective on Kymera Therapeutics from $47.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, May 12th. Citigroup began coverage on Kymera Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Kymera Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Kymera Therapeutics Stock Down 4.2%

NASDAQ:KYMR opened at $30.13 on Tuesday. Kymera Therapeutics has a 52 week low of $19.45 and a 52 week high of $53.27. The stock has a market capitalization of $1.96 billion, a PE ratio of -12.88 and a beta of 2.18. The stock’s 50-day moving average price is $29.14 and its 200-day moving average price is $36.72.

Kymera Therapeutics (NASDAQ:KYMR) last posted its 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 return on equity of 24.96% and a negative net margin of 191.26%. The firm had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $11.38 million. During the same period last year, the firm earned ($0.69) EPS. The company’s quarterly revenue was up 114.6% on a year-over-year basis. Sell-side analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, CFO Bruce N. Jacobs sold 7,035 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $214,215.75. Following the sale, the chief financial officer now owns 201,886 shares of the company’s stock, valued at $6,147,428.70. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ellen Chiniara sold 2,241 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $68,238.45. Following the completion of the sale, the insider now directly owns 80,085 shares in the company, valued at approximately $2,438,588.25. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,659 shares of company stock worth $324,567. Insiders own 16.01% of the company’s stock.

Institutional Trading of Kymera Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in Kymera Therapeutics by 14.0% in the fourth quarter. Northern Trust Corp now owns 437,833 shares of the company’s stock valued at $17,614,000 after purchasing an additional 53,658 shares during the period. Charles Schwab Investment Management Inc. raised its position in Kymera Therapeutics by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company’s stock valued at $15,577,000 after purchasing an additional 20,346 shares during the period. Victory Capital Management Inc. raised its position in Kymera Therapeutics by 174.2% in the fourth quarter. Victory Capital Management Inc. now owns 19,899 shares of the company’s stock valued at $801,000 after purchasing an additional 12,643 shares during the period. Wells Fargo & Company MN increased its position in shares of Kymera Therapeutics by 51.8% during the fourth quarter. Wells Fargo & Company MN now owns 21,939 shares of the company’s stock worth $883,000 after acquiring an additional 7,487 shares during the period. Finally, Schroder Investment Management Group increased its position in shares of Kymera Therapeutics by 14.1% during the fourth quarter. Schroder Investment Management Group now owns 163,896 shares of the company’s stock worth $6,444,000 after acquiring an additional 20,204 shares during the period.

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.