Kymera Therapeutics (NASDAQ:KYMR) Receives Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note published on Friday morning, Benzinga reports. They currently have a $53.00 target price on the stock, down from their previous target price of $54.00.

Several other analysts have also recently commented on KYMR. Morgan Stanley upped their target price on Kymera Therapeutics from $34.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price objective on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Leerink Partnrs upgraded Kymera Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Wolfe Research raised Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Monday, August 26th. Finally, Oppenheimer lifted their price target on Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.93.

Kymera Therapeutics Stock Up 1.3 %

KYMR opened at $47.07 on Friday. Kymera Therapeutics has a twelve month low of $13.85 and a twelve month high of $53.27. The company has a 50-day simple moving average of $46.98 and a 200 day simple moving average of $40.83.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.01. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The company had revenue of $3.74 million for the quarter, compared to analyst estimates of $10.34 million. During the same period in the previous year, the firm posted ($0.90) EPS. The firm’s revenue was down 20.9% on a year-over-year basis. Sell-side analysts anticipate that Kymera Therapeutics will post -2.84 EPS for the current year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.10, for a total transaction of $245,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.10, for a total value of $245,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Pamela Esposito sold 13,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total transaction of $651,780.00. The disclosure for this sale can be found here. Insiders own 15.82% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

A number of large investors have recently made changes to their positions in KYMR. Values First Advisors Inc. purchased a new stake in Kymera Therapeutics during the 3rd quarter valued at about $61,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kymera Therapeutics by 27.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock worth $114,000 after purchasing an additional 504 shares during the period. Comerica Bank boosted its position in Kymera Therapeutics by 13.7% in the first quarter. Comerica Bank now owns 3,324 shares of the company’s stock valued at $134,000 after buying an additional 400 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Kymera Therapeutics during the 2nd quarter worth approximately $139,000. Finally, Quest Partners LLC raised its position in Kymera Therapeutics by 1,402.0% during the 2nd quarter. Quest Partners LLC now owns 5,212 shares of the company’s stock worth $156,000 after buying an additional 4,865 shares during 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.