Kymera Therapeutics shows strong top-line momentum at 56% year-over-year revenue growth, but persistent and deep cash consumption at 271% of revenue, a quality score of 1.6 out of 10 well below the 4.0 minimum floor, three of the four most recent quarters delivering results short of expectations, and heavy short interest at 16% with a put/call ratio above 2.2 together make this an unsuitable candidate for new entry.
Thesis pillars
- Pre Profitability Quality Floor Breach→Stable
- Persistent Earnings Miss Streak↑Improving
- Heavy Short Bearish Options Pressure↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 26, 2026
Kymera Therapeutics, Inc. (KYMR) Stock Analysis
Breakout setup
Healthcare · Biotechnology
Sell if holding. Engine safety override at $117.57: Quality below floor (2.5 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: High short interest: 15%; Below-average business quality.
Kymera Therapeutics is a clinical-stage biopharmaceutical company developing oral targeted protein degraders for immune-inflammatory diseases, with lead programs KT-621 (STAT6, Phase 2b in atopic dermatitis and asthma) and KT-579 (IRF5, Phase 1). Revenue comes from collaboration... Read more
Sell if holding. Engine safety override at $117.57: Quality below floor (2.5 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: High short interest: 15%; Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 64, MACD bullish. Score 4.9/10, moderate confidence.
Passes 5/8 gates (positive momentum, clean insider activity, news boost analyst 0.50, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 1d<=7d. Suitability: speculative.
About Kymera Therapeutics, Inc.
About Kymera Therapeutics, Inc.
Kymera Therapeutics has advanced its lead STAT6 degrader, KT-621, into two concurrent Phase 2b clinical trials—BROADEN2 in atopic dermatitis and BREADTH in asthma—with data expected by mid-2027 and late-2027, respectively. The company held $1,619.4 million in cash and marketable securities at December 31, 2025, supporting operations through a projected 2029 runway, against an accumulated deficit of $1,066.0 million. KT-579 (IRF5) began Phase 1 testing in healthy volunteers during 2025, and Sanofi plans to advance KT-485/SAR447971 (IRAK4) into clinical testing in 2026.
Kymera generates collaboration revenue rather than product sales. The Sanofi partnership covers IRAK4 degraders outside oncology and immuno-oncology; in June 2025, Sanofi exercised its participation election for KT-485/SAR447971, which it intends to advance clinically in 2026. A separate June 2025 agreement with Gilead Sciences targets CDK2 molecular glue degraders. The company's discovery platform applies targeted protein degradation, a modality that recruits the body's natural ubiquitin-proteasome machinery to eliminate disease-causing proteins—enabling it to target historically undrugged transcription factors such as STAT6 and IRF5. Drug manufacturing is outsourced to contract manufacturers, which the filing identifies as a critical dependency for clinical supply. Net losses were $311.4 million in 2025, $223.9 million in 2024, and $147.0 million in 2023, driven entirely by research, development, and general and administrative costs.
Show full overview
The company's clinical valuation rests heavily on KT-621's Phase 2b data readouts. The 10-K acknowledges that "no product candidate using a heterobifunctional degrader has been approved in the United States or Europe," marking the BROADEN2 and BREADTH trials as binary inflection points for the entire TPD platform thesis. Prior discontinuations—KT-295 (TYK2) in May 2025 and Sanofi's decision to abandon first-generation KT-474 in favor of KT-485 in June 2025—demonstrate that late-stage clinical redirection is possible and can impair program-level investment value.
See also: Healthcare · Biotechnology
From Kymera Therapeutics, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-10-28Recent Developments — Kymera Therapeutics, Inc.
Latest news
- NEWS Morgan Stanley Maintains Overweight on Kymera Therapeutics, Raises Price Target to $146 — benzinga Oct 27, 2026 positive
- NEWS Kymera Therapeutics to Report Third Quarter 2026 Financial Results — fiscal.ai Oct 22, 2026
- NEWS This American Express Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Friday — benzinga Oct 9, 2026 positive
- NEWS Raymond James Initiates Coverage On Kymera Therapeutics with Outperform Rating, Announces Price Target of $140 — benzinga Oct 9, 2026 positive
- NEWS Citigroup Maintains Buy on Kymera Therapeutics, Raises Price Target to $150 — benzinga Oct 5, 2026 positive
Generated 2026-10-28T12:03:51Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMpipelinelead programs10-K Item 1A: 'We depend heavily on the successful development of our lead programs.'
Material Events(8-K, last 90d)
- 2026-06-08Item 5.02MEDIUMCOO Jeremy Chadwick resigned effective June 5, 2026, citing personal reasons; no disagreement with company practices cited. Chadwick will remain as employee/advisor until November 2026. No successor named.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
3 floor-breakers
Clinical-stage biotech: losses expected pre-commercialisation. Quality floor doesn't distinguish R&D investment from operational decay — components above tell the real story.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $117.57: Quality below floor (2.5 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: High short interest: 15%; Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 64, MACD bullish. Prior stop was $109.34. Score 4.9/10, moderate confidence.
Analyst target: $125.84 (+7.0% upside). Prior stop was $109.34. Stop-loss: $109.34.
Quality below floor (2.5 < 4.0).
Kymera Therapeutics, Inc. trades at a P/E of N/A (forward -23.1). TrendMatrix value score: 6.0/10. Verdict: Sell.
29 analysts cover KYMR with a consensus score of 4.3/5. Average price target: $140.
What does Kymera Therapeutics, Inc. do?Kymera Therapeutics is a clinical-stage biopharmaceutical company developing oral targeted protein degraders for...
Kymera Therapeutics is a clinical-stage biopharmaceutical company developing oral targeted protein degraders for immune-inflammatory diseases, with lead programs KT-621 (STAT6, Phase 2b in atopic dermatitis and asthma) and KT-579 (IRF5, Phase 1). Revenue comes from collaboration agreements with Sanofi and Gilead rather than product sales; the company held $1.6 billion in cash as of December 31, 2025. It has never generated product revenue.