Kymera Therapeutics (NASDAQ:KYMR) Earns Buy Rating from Analysts at Citigroup

Citigroup started coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a report published on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $52.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Kymera Therapeutics in a research note on Friday, December 6th. They set a “market perform” rating and a $55.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a research note on Tuesday, January 21st. BTIG Research began coverage on shares of Kymera Therapeutics in a report on Tuesday, December 10th. They issued a “buy” rating and a $60.00 price objective for the company. Leerink Partners reissued an “outperform” rating and set a $60.00 target price on shares of Kymera Therapeutics in a report on Friday, December 27th. Finally, HC Wainwright upped their target price on Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.36.

Kymera Therapeutics Stock Down 4.7 %

Shares of NASDAQ:KYMR opened at $33.45 on Thursday. The company’s 50-day moving average price is $37.57 and its 200 day moving average price is $42.95. The company has a market cap of $2.17 billion, a PE ratio of -14.29 and a beta of 2.22. Kymera Therapeutics has a fifty-two week low of $29.07 and a fifty-two week high of $53.27.

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

Insider Buying and Selling

In related news, COO Jeremy G. Chadwick sold 1,383 shares of the stock in a transaction 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 in the company, valued at approximately $2,064,510. This trade represents a 2.00 % decrease in their ownership of the stock. 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 Kymera Therapeutics 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 sale, the insider now directly owns 54,826 shares of the company’s stock, valued at approximately $2,288,985.50. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,788 shares of company stock worth $455,202. 15.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

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