Analysts Set Kymera Therapeutics, Inc. (NASDAQ:KYMR) PT at $56.36

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $56.36.

KYMR has been the subject of a number of research reports. 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 target price for the company. BMO Capital Markets assumed coverage on Kymera Therapeutics in a report on Friday, December 6th. They issued a “market perform” rating and a $55.00 target price on the stock. Wells Fargo & Company raised Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $38.00 to $57.00 in a research note on Monday, December 2nd. Leerink Partners reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Friday, December 27th. Finally, HC Wainwright increased their target price on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 28th.

Insiders Place Their Bets

In related news, COO Jeremy G. Chadwick sold 1,383 shares of the firm’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 transaction of $42,112.35. Following the completion of the sale, the chief operating officer now directly owns 67,800 shares of the company’s stock, valued at approximately $2,064,510. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellen Chiniara sold 3,129 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $41.75, for a total value of $130,635.75. Following the completion of the transaction, the insider now directly owns 54,826 shares in the company, valued at $2,288,985.50. This trade represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,788 shares of company stock valued at $455,202 over the last 90 days. Insiders own 15.82% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Kymera Therapeutics by 14.9% in the fourth quarter. Wellington Management Group LLP now owns 5,307,326 shares of the company’s stock valued at $213,514,000 after purchasing an additional 688,967 shares during the period. Avoro Capital Advisors LLC grew its position in shares of Kymera Therapeutics by 14.4% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company’s stock worth $207,184,000 after buying an additional 650,000 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Kymera Therapeutics during the fourth quarter valued at $23,856,000. Boxer Capital Management LLC bought a new stake in shares of Kymera Therapeutics in the fourth quarter valued at about $17,098,000. Finally, Jennison Associates LLC lifted its stake in Kymera Therapeutics by 85.8% in the third quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock worth $37,754,000 after acquiring an additional 368,394 shares during the period.

Kymera Therapeutics Stock Down 1.9 %

NASDAQ KYMR opened at $33.21 on Friday. Kymera Therapeutics has a 52 week low of $29.07 and a 52 week high of $53.27. The firm has a market capitalization of $2.16 billion, a P/E ratio of -14.19 and a beta of 2.22. The company has a 50-day moving average price of $36.90 and a 200-day moving average price of $42.44.

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.12). Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The business had revenue of $7.39 million for the quarter, compared to analysts’ expectations of $14.81 million. As a group, equities research analysts anticipate that Kymera Therapeutics will post -2.79 EPS for the current year.

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.