Kymera Therapeutics (NASDAQ:KYMR) Upgraded by TD Cowen to Strong-Buy Rating

TD Cowen upgraded shares of Kymera Therapeutics (NASDAQ:KYMR) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Several other research firms also recently weighed in on KYMR. Brookline Capital Markets reissued a “buy” rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Barclays increased their target price on Kymera Therapeutics from $133.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Oppenheimer reissued an “outperform” rating and issued a $125.00 target price on shares of Kymera Therapeutics in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Kymera Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $135.00 target price on shares of Kymera Therapeutics in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.65.

Kymera Therapeutics Stock Up 1.0%

Shares of NASDAQ:KYMR opened at $121.05 on Monday. Kymera Therapeutics has a 52 week low of $39.84 and a 52 week high of $130.05. The stock has a market capitalization of $10.07 billion, a P/E ratio of -37.36 and a beta of 1.95. The firm has a fifty day simple moving average of $110.13 and a two-hundred day simple moving average of $92.46.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.09. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The company had revenue of $65.00 million for the quarter, compared to analysts’ expectations of $32.78 million. During the same quarter in the prior year, the firm earned ($0.95) earnings per share. Kymera Therapeutics’s revenue was up 465.2% compared to the same quarter last year. On average, analysts expect that Kymera Therapeutics will post -3.75 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In related news, CEO Nello Mainolfi sold 80,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $115.29, for a total value of $9,223,200.00. Following the completion of the transaction, the chief executive officer owned 666,568 shares of the company’s stock, valued at $76,848,624.72. This represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce Booth sold 467,878 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $110.29, for a total transaction of $51,602,264.62. Following the sale, the director directly owned 472,267 shares of the company’s stock, valued at approximately $52,086,327.43. The trade was a 49.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,591,908 shares of company stock valued at $386,532,863. Company insiders own 15.98% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in KYMR. GAMMA Investing LLC lifted its holdings in shares of Kymera Therapeutics by 27.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $52,000 after buying an additional 98 shares in the last quarter. US Bancorp DE raised its stake in shares of Kymera Therapeutics by 9.8% during the third quarter. US Bancorp DE now owns 1,865 shares of the company’s stock valued at $106,000 after acquiring an additional 166 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Kymera Therapeutics by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 11,045 shares of the company’s stock valued at $1,267,000 after purchasing an additional 200 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Kymera Therapeutics by 3.6% in the first quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock worth $565,000 after purchasing an additional 235 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Kymera Therapeutics by 7.5% in the 1st quarter. Cetera Investment Advisers now owns 3,602 shares of the company’s stock valued at $300,000 after buying an additional 252 shares during the period.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.