Citigroup Begins Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Investment analysts at Citigroup assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $52.00 price target on the stock. Citigroup’s target price would suggest a potential upside of 51.29% from the stock’s previous close.

KYMR has been the topic of several other research reports. Wells Fargo & Company upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $57.00 in a research note on Monday, December 2nd. HC Wainwright lifted their price target on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. BMO Capital Markets began 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 target on the stock. BTIG Research began coverage on shares of Kymera Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Leerink Partners reiterated an “outperform” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research note on Friday, December 27th. Three research 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’s stock. According to MarketBeat, Kymera Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $56.36.

Kymera Therapeutics Trading Up 2.8 %

Shares of KYMR stock opened at $34.37 on Thursday. Kymera Therapeutics has a 12-month low of $29.07 and a 12-month high of $53.27. The firm’s 50 day moving average is $37.43 and its 200 day moving average is $42.84. The stock has a market capitalization of $2.23 billion, a P/E ratio of -14.69 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last issued 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 company had revenue of $7.39 million during the quarter, compared to analysts’ expectations of $14.81 million. As a group, equities analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Buying and Selling at Kymera Therapeutics

In other news, insider Ellen Chiniara sold 2,241 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $68,238.45. Following the sale, the insider now directly owns 80,085 shares in the company, valued at $2,438,588.25. The trade was a 2.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bruce N. Jacobs sold 7,035 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.45, for a total transaction of $214,215.75. Following the completion of the sale, the chief financial officer now owns 201,886 shares in the company, valued at approximately $6,147,428.70. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,788 shares of company stock worth $455,202. Insiders own 15.82% of the company’s stock.

Institutional Trading of Kymera Therapeutics

A number of large investors have recently made changes to their positions in KYMR. Wellington Management Group LLP increased its holdings in shares of Kymera Therapeutics by 14.9% in the 4th quarter. Wellington Management Group LLP now owns 5,307,326 shares of the company’s stock worth $213,514,000 after buying an additional 688,967 shares during the last quarter. Avoro Capital Advisors LLC increased its holdings 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 worth $207,184,000 after buying an additional 650,000 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of Kymera Therapeutics in the 4th quarter worth about $23,856,000. Boxer Capital Management LLC purchased a new position in shares of Kymera Therapeutics during the 4th quarter worth about $17,098,000. Finally, Jennison Associates LLC boosted its stake in shares of Kymera Therapeutics by 85.8% during the 3rd quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock worth $37,754,000 after purchasing an additional 368,394 shares during the period.

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.