# Kymera Therapeutics, Inc. (KYMR)

> Source: Nexqual · https://nexqual.com/KYMR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Kymera Therapeutics, Inc. (KYMR), nexqual.com/KYMR" · informational, not investment advice.

**Price:** USD 110.85 (-1.58% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 112.63 · day 110.16–113.73 · 52w 55.26–130.05 · market cap $9.12B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $105M, net income -$300M (-285.3% margin), free cash flow -$238M (SEC filings).
- Insider open-market sales, last ~7 months: 24 Form 4 filings, $397M; 2 not under a Rule 10b5-1 plan ($174M); 8 by opportunistic insiders (0 outside 10b5-1 plans), 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.88 on a 1–5 scale) (24 analysts), mean target USD 139.35 (range 111–180).
- Total return with dividends: 1Y +91.9% vs S&P 500 +14.9%; 5Y +99.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD -1.27, revenue estimate $2.9M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $72.8M | $46.8M | $78.6M | $47.1M | $39.2M | $105M |
| Gross profit | — | $0K | $0K | $0K | $0K | — |
| Operating income | -$101M | -$161M | -$166M | -$262M | -$349M | -$350M |
| Net income | -$100M | -$155M | -$147M | -$224M | -$311M | -$300M |
| EPS (diluted) | -$2.09 | -$2.87 | -$2.52 | -$2.98 | -$3.69 | — |
| Free cash flow | -$131M | -$156M | -$137M | -$207M | -$234M | -$238M |
| Gross margin | — | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Operating margin | -138.0% | -344.4% | -210.6% | -555.8% | -891.1% | -333.5% |
| Net margin | -137.6% | -330.6% | -187.0% | -475.6% | -794.0% | -285.3% |
| Revenue growth | +114.0% | -35.7% | +67.8% | -40.1% | -16.7% | — |
| Cash + short-term investments | $442M | $407M | $375M | $489M | $848M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 86.8x · P/B 6.0x · FCF yield -2.61% · Earnings yield -3.29%

## Insider sales (SEC Form 4, open-market, last ~7 months)
22 of 24 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-01 | Mainolfi Nello | Chief Executive Officer | 30,000 | $3.4M | 4.3% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-04 | Adams Brian | Chief Legal Officer | 6,371 | $744K | 11.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-07 | Mainolfi Nello | Chief Executive Officer | 50,000 | $6.0M | 7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-01 | Goodman Noah | Chief Business Officer | 3,389 | $387K | 6.7% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-07-01 | Mainolfi Nello | Chief Executive Officer | 80,000 | $9.2M | 10.7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-30 | Jacobs Bruce N. | Chief Financial Officer | 77,109 | $8.9M | 23.9% | Yes | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-06-29 | Booth Bruce | Director | 31,283 | $3.4M | 6.3% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-26…2026-06-29 | Booth Bruce | Director | 513,245 | $56.5M | 52.4% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-26 | Bvf Partners L P/il | Director | 1,630,658 | $174M | 83.6% | No | Too little history (no open-market trades in 2024) |
| 2026-06-25 | Booth Bruce | Director | 285,684 | $34.8M | 35% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-23…2026-06-25 | Booth Bruce | Director | 398,765 | $44.0M | 41.4% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-25 | Goodman Noah | Chief Business Officer | 5,000 | $570K | 9.1% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-22 | Booth Bruce | Director | 31,798 | $3.3M | 4.9% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-17…2026-06-22 | Booth Bruce | Director | 478,198 | $45.3M | 43.6% | Yes (adopted December 16, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-22 | Goodman Noah | Chief Business Officer | 2,500 | $248K | 4.7% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-05-26…2026-05-27 | Chadwick Jeremy G | Chief Operating Officer | 17,184 | $1.4M | 28.1% | Yes | Too little history (no open-market trades in 2023) |
| 2026-05-11 | Ridloff Elena | Director | 3,000 | $261K | 100% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-29 | Mainolfi Nello | Chief Executive Officer | 30,000 | $2.4M | 4.3% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-22 | Booth Bruce | Director | 6,000 | $540K | 0.9% | Yes (adopted December 16, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-22 | Chadwick Jeremy G | Chief Operating Officer | 300 | $27K | 0.5% | Yes | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.88 on a 1–5 scale), 24 analysts; mean target USD 139.35 (low 111, high 180).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Raymond James | Initiated | Outperform | $140 |
| 2026-10-05 | Citigroup | Target raised | Buy | $135 → $150 |
| 2026-09-22 | Stifel | Target raised | Buy | $132 → $152 |
| 2026-09-14 | B of A Securities | Target raised | Buy | $123 → $144 |
| 2026-09-10 | Wolfe Research | Upgrade | Peer Perform → Outperform |  |
| 2026-08-31 | Guggenheim | Target raised | Buy | $135 → $170 |
| 2026-08-27 | Wells Fargo | Target raised | Overweight | $116 → $151 |
| 2026-08-06 | Barclays | Target raised | Overweight | $133 → $139 |
| 2026-07-30 | Deutsche Bank | Initiated | Hold | $120 |
| 2026-07-28 | Guggenheim | Target raised | Buy | $125 → $135 |
| 2026-07-16 | Mizuho | Target raised | Outperform | $120 → $140 |
| 2026-07-13 | RBC Capital | Downgrade | Outperform → Sector Perform | $106 → $115 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +91.9% | +99.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +92.3% | +14.7% |
| Volatility (annualized) | 57.8% | 72.8% |
| Max drawdown | -27.7% (Dec 2025→Jan 2026) | -83.1% (Nov 2021→Oct 2023) |

## Peers (Biotechnology)
IBRX (ImmunityBio, Inc.) USD 8.31 -3.82% · CAI (Caris Life Sciences, Inc.) USD 31.71 -1.98% · KRYS (Krystal Biotech, Inc.) USD 320.13 -0.63% · PTGX (Protagonist Therapeutics, Inc.) USD 139.53 +1.05% · CYTK (Cytokinetics, Incorporated) USD 62.33 -0.84% · SYRE (Spyre Therapeutics, Inc.) USD 92.33 -0.67%

## More
Full page: https://nexqual.com/KYMR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in KYMR's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1815442/000119312526073395/kymr-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Jefferies | "Sales to, or through, Jefferies by us could result in substantial dilution to the interests of other holders of our common stock." |
| Partner | Sanofi (SNY) | "We are collaborating with Sanofi S.A. ("Sanofi") on the development of our IRAK4 degrader, KT-485/SAR447971, which Sanofi plans to advance into clinical testing in 2026." |
| Partner | GILEAD SCIENCES, INC. (GILD) | "In June 2025, we announced a strategic collaboration with Gilead Sciences, Inc. ("Gilead") to develop novel oral molecular glue degraders for CDK2." |
| Partner | Vertex Pharmaceuticals | "Our only revenues have been derived from research collaboration arrangements with Vertex Pharmaceuticals Incorporated, or Vertex,, Sanofi and Gilead." |
| Partner | Johnson & Johnson (JNJ) | "In particular, several pharmaceutical companies have announced partnerships around programs targeting STAT6, and/or have their own internal STAT6 programs, including Gilead Sciences, Inc, Johnson & Johnson, Pfizer and Sa…" |
| Partner | Cowen and Company | "To date, we have received gross proceeds of $2.75 billion from sales of our convertible preferred stock, the sale of common stock including our August 2020 initial public offering, or IPO, and concurrent private placemen…" |
| Partner | Pfizer (PFE) | "In particular, several pharmaceutical companies have announced partnerships around programs targeting STAT6, and/or have their own internal STAT6 programs, including Gilead Sciences, Inc, Johnson & Johnson, Pfizer and Sa…" |

Other companies that name KYMR in their own reports (relationship from KYMR's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | GILEAD SCIENCES, INC. (GILD) | 10-K 2026-02-24 | "•Entered into an exclusive option and license agreement with Kymera Therapeutics, Inc. to develop novel oral molecular glue CDK2 degraders with broad oncology treatment potential." |

## Company outlook (8-K filed 2026-08-05)

- "The accelerated timeline enables us to pull forward our expected topline readout to year-end 2026, positions us for an earlier than anticipated start to Phase 3 trials next year, and ultimately allows us to move faster for patients who are waiting for new options." Dr."
- "The earlier than expected completion of enrollment enabled the Company to accelerate its expected topline data readout by six months to year-end 2026, earlier than prior guidance to share data by mid-2027."
- "Subject to discussions with regulators, the Company expects to initiate Phase 3 trials in AD by mid-2027. • Enrollment is ongoing in the KT-621 BREADTH Phase 2b clinical trial in patients with moderate to severe eosinophilic asthma."
- "The Company expects to report data in late 2027. • In June 2026 at the Japanese Dermatological Association (JDA) Annual Meeting, the Company presented results from the KT-621 Phase 1 study in healthy Japanese adults designed to support the enrollment of patients in Japan in global KT-621 studies."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-1.27 | $-1.03 | +23.3% | $2.9M | 21 |
| Next quarter (ends 2026-12-31) | $-1.25 | $-1.03 | +21.9% | $3.3M | 21 |
| Current fiscal year (ends 2026-12-31) | $-3.85 | $-3.51 | +9.6% | $104.8M | 21 |
| Next fiscal year (ends 2027-12-31) | $-5.10 | $-4.35 | +17.2% | $40.7M | 21 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±24.6%; last 8 reports averaged ±3.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 110.1% | ±24.6% |
| 2026-12-18 | 56 | 168.0% | ±51.7% |
| 2027-01-15 | 84 | 147.0% | ±55.0% |
| 2027-02-19 | 119 | 128.1% | ±56.8% |
| 2027-03-19 | 147 | 118.5% | ±58.2% |
| 2027-05-21 | 210 | 104.9% | ±61.2% |