Citigroup Initiates Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Research analysts at Citigroup initiated coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $52.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 48.15% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. BTIG Research started coverage on Kymera Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $60.00 price objective for the company. BMO Capital Markets began coverage on Kymera Therapeutics in a research report on Friday, December 6th. They set a “market perform” rating and a $55.00 price target for the company. HC Wainwright raised their price target on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $38.00 to $57.00 in a research note on Monday, December 2nd. Finally, Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kymera Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

Kymera Therapeutics Trading Up 5.5 %

Shares of NASDAQ KYMR opened at $35.10 on Thursday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -15.00 and a beta of 2.22. The stock’s 50 day simple moving average is $37.72 and its 200 day simple moving average is $43.02. Kymera Therapeutics has a 12-month low of $29.07 and a 12-month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly 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 net margin of 191.26% and a negative return on equity of 24.96%. The firm had revenue of $7.39 million for the quarter, compared to analyst estimates of $14.81 million. As a group, equities analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In related news, insider Ellen Chiniara sold 2,241 shares of Kymera Therapeutics stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $68,238.45. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Bruce N. Jacobs sold 7,035 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $214,215.75. Following the sale, the chief financial officer now directly owns 201,886 shares in the company, valued at $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. Over the last 90 days, insiders have sold 13,788 shares of company stock valued at $455,202. Corporate insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KYMR. Blue Trust Inc. boosted its stake in Kymera Therapeutics by 74.8% in the 4th quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the period. State of Wyoming acquired a new stake in shares of Kymera Therapeutics in the fourth quarter worth $45,000. GF Fund Management CO. LTD. purchased a new position in shares of Kymera Therapeutics during the fourth quarter valued at $55,000. KBC Group NV raised its position in Kymera Therapeutics by 53.8% during the fourth quarter. KBC Group NV now owns 2,151 shares of the company’s stock valued at $87,000 after buying an additional 752 shares during the period. Finally, Quarry LP purchased a new stake in Kymera Therapeutics in the 3rd quarter worth about $95,000.

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.