Bank of America Issues Positive Forecast for Kymera Therapeutics (NASDAQ:KYMR) Stock Price

by · The Cerbat Gem

Kymera Therapeutics (NASDAQ:KYMR – Get Free Report) had its target price increased by analysts at Bank of America from $71.00 to $112.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 18.77% from the stock’s current price.

KYMR has been the subject of a number of other reports. Mizuho initiated coverage on Kymera Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $81.00 price objective for the company. Barclays restated an “overweight” rating and issued a $119.00 target price on shares of Kymera Therapeutics in a research report on Tuesday. Guggenheim assumed coverage on shares of Kymera Therapeutics in a research report on Monday, November 3rd. They set a “buy” rating and a $90.00 price target on the stock. Stifel Nicolaus set a $114.00 price objective on shares of Kymera Therapeutics in a report on Monday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Kymera Therapeutics in a research note on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $89.95.

View Our Latest Stock Analysis on KYMR

Kymera Therapeutics Price Performance

KYMR stock opened at $94.30 on Tuesday. The firm has a 50 day simple moving average of $62.19 and a two-hundred day simple moving average of $50.50. The stock has a market cap of $6.78 billion, a PE ratio of -26.27 and a beta of 2.28. Kymera Therapeutics has a one year low of $19.44 and a one year high of $103.00.

Kymera Therapeutics (NASDAQ:KYMR – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.19). The company had revenue of $2.76 million for the quarter, compared to the consensus estimate of $23.15 million. Kymera Therapeutics had a negative return on equity of 32.92% and a negative net margin of 674.81%. On average, research analysts expect that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kymera Therapeutics news, CFO Bruce N. Jacobs sold 79,220 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $50.00, for a total transaction of $3,961,000.00. Following the completion of the sale, the chief financial officer directly owned 227,409 shares in the company, valued at approximately $11,370,450. The trade was a 25.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nello Mainolfi sold 100,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $89.17, for a total value of $8,917,000.00. Following the completion of the transaction, the chief executive officer owned 660,482 shares in the company, valued at approximately $58,895,179.94. This trade represents a 13.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 361,217 shares of company stock valued at $25,140,500. Insiders own 16.01% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Kymera Therapeutics by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company’s stock worth $143,183,000 after purchasing an additional 344,080 shares in the last quarter. Invesco Ltd. lifted its position in shares of Kymera Therapeutics by 36.9% during the 1st 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 in the last quarter. Nuveen LLC bought a new position in shares of Kymera Therapeutics during the 1st quarter valued at approximately $3,920,000. Russell Investments Group Ltd. grew its stake in shares of Kymera Therapeutics by 40.0% during the 1st quarter. Russell Investments Group Ltd. now owns 82,507 shares of the company’s stock valued at $2,258,000 after acquiring an additional 23,584 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Kymera Therapeutics in the 1st quarter worth approximately $68,000.

About Kymera Therapeutics

(Get Free Report)

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.

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