Jefferies Financial Group Initiates Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Analysts at Jefferies Financial Group assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a note issued to investors on Monday. The brokerage set a “buy” rating on the stock.

Several other research analysts also recently commented on KYMR. Wall Street Zen downgraded shares of Kymera Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Bank of America increased their price objective on Kymera Therapeutics from $71.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kymera Therapeutics in a research note on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 target price on shares of Kymera Therapeutics in a research note on Thursday, February 26th. Finally, Truist Financial lifted their price target on Kymera Therapeutics from $80.00 to $116.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

Kymera Therapeutics Price Performance

Shares of KYMR traded up $1.81 during midday trading on Monday, hitting $80.84. 120,857 shares of the company traded hands, compared to its average volume of 772,315. Kymera Therapeutics has a one year low of $19.44 and a one year high of $103.00. The firm has a market cap of $6.60 billion, a P/E ratio of -21.97 and a beta of 2.20. The stock has a 50-day moving average of $79.21 and a 200-day moving average of $68.50.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.20). The firm had revenue of $2.87 million during the quarter, compared to the consensus estimate of $14.80 million. Kymera Therapeutics had a negative net margin of 794.04% and a negative return on equity of 28.71%. Kymera Therapeutics’s revenue was down 60.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.88) earnings per share. Sell-side analysts forecast that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity

In other news, Director Bruce Booth sold 81,866 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $90.13, for a total value of $7,378,582.58. Following the completion of the sale, the director directly owned 675,341 shares in the company, valued at approximately $60,868,484.33. The trade was a 10.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeremy G. Chadwick sold 25,758 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $83.30, for a total transaction of $2,145,641.40. Following the completion of the sale, the chief operating officer directly owned 68,052 shares of the company’s stock, valued at $5,668,731.60. This trade represents a 27.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 196,561 shares of company stock valued at $17,097,428. Insiders own 16.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Kymera Therapeutics by 382.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock valued at $42,000 after acquiring an additional 424 shares during the last quarter. Larson Financial Group LLC grew its position in Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock worth $44,000 after acquiring an additional 349 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Kymera Therapeutics in the 4th quarter worth approximately $63,000. PNC Financial Services Group Inc. lifted its position in Kymera Therapeutics by 506.6% in the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock valued at $40,000 after purchasing an additional 770 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Kymera Therapeutics by 652.0% in the third quarter. Bessemer Group Inc. now owns 940 shares of the company’s stock valued at $53,000 after purchasing an additional 815 shares during the last quarter.

About Kymera Therapeutics

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.