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Kymera Therapeutics' (KYMR) fair value estimate was raised by 47% to $114.00 by analysts, driven by increased confidence in its KT-621 drug candidate despite lowered near-term revenue growth forecasts.
Major insiders, including Roivant Sciences and GSK, invested over $550 million into biotech firms Immunovant, Kymera Therapeutics, and Wave Life Sciences following their recent secondary share offerings.
Kymera Therapeutics reported positive Phase 1b results for its anti-inflammatory drug, KT-621, causing its stock to surge 46%. The data demonstrated a significant reduction in inflammatory biomarkers, boosting investor confidence in its potential for treating Type 2 inflammatory diseases.