Bank of America Forecasts Strong Price Appreciation for Kymera Therapeutics (NASDAQ:KYMR) Stock

Kymera Therapeutics (NASDAQ:KYMR) had its price target upped by stock analysts at Bank of America from $71.00 to $112.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 24.60% from the stock’s previous close.

Several other research analysts have also recently commented on KYMR. Royal Bank Of Canada began coverage on shares of Kymera Therapeutics in a report on Tuesday, September 16th. They set an “outperform” rating and a $70.00 target price on the stock. Guggenheim began coverage on 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 Kymera Therapeutics in a research note on Monday. B. Riley upped their target price on Kymera Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, UBS Group set a $90.00 target price on Kymera Therapeutics and gave the stock a “buy” rating in a report on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $108.35.

Kymera Therapeutics Stock Performance

KYMR opened at $89.89 on Tuesday. The stock has a fifty day moving average of $63.50 and a 200-day moving average of $51.18. The company has a market capitalization of $6.47 billion, a P/E ratio of -25.04 and a beta of 2.28. Kymera Therapeutics has a fifty-two week low of $19.44 and a fifty-two week high of $103.00.

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

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $89.76, for a total value of $448,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nello Mainolfi sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 660,482 shares of the company’s stock, valued at approximately $58,895,179.94. The trade was a 13.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 361,217 shares of company stock valued at $25,140,500. 16.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. bought a new position in Kymera Therapeutics in the 3rd quarter valued at approximately $304,000. Dark Forest Capital Management LP increased its holdings in shares of Kymera Therapeutics by 19.7% during the third quarter. Dark Forest Capital Management LP now owns 31,052 shares of the company’s stock worth $1,758,000 after buying an additional 5,102 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Kymera Therapeutics by 1,130.2% in the 3rd quarter. Alyeska Investment Group L.P. now owns 615,091 shares of the company’s stock valued at $34,814,000 after acquiring an additional 565,091 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Kymera Therapeutics by 270.9% in the 3rd quarter. Verition Fund Management LLC now owns 31,471 shares of the company’s stock valued at $1,781,000 after acquiring an additional 22,987 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its position in Kymera Therapeutics by 58.8% during the 3rd quarter. Polar Capital Holdings Plc now owns 397,041 shares of the company’s stock worth $22,473,000 after acquiring an additional 147,041 shares during 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.