Kymera Therapeutics (NASDAQ:KYMR) Trading Up 6.3% – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares rose 6.3% during mid-day trading on Thursday . The stock traded as high as $47.50 and last traded at $47.04. Approximately 519,137 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 605,315 shares. The stock had previously closed at $44.26.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley upgraded Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $49.00 to $79.00 in a research report on Tuesday. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research note on Tuesday. Bank of America raised Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, June 2nd. Wall Street Zen raised Kymera Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Stifel Nicolaus assumed coverage on Kymera Therapeutics in a research report on Tuesday, May 20th. They set a “buy” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.82.

Kymera Therapeutics Stock Down 0.1%

The firm has a market cap of $3.10 billion, a P/E ratio of -20.35 and a beta of 2.07. The company’s 50 day simple moving average is $30.25 and its 200-day simple moving average is $35.78.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.10. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The business had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. During the same period last year, the company posted ($0.69) earnings per share. The company’s quarterly revenue was up 114.6% compared to the same quarter last year. Equities research analysts predict that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In other news, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $1,470,000.00. Following the sale, the chief executive officer now owns 660,482 shares in the company, valued at $32,363,618. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elena Ridloff sold 12,000 shares of Kymera Therapeutics stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $46.10, for a total transaction of $553,200.00. The disclosure for this sale can be found here. Insiders sold a total of 48,349 shares of company stock worth $2,334,301 over the last three months. Corporate insiders own 16.01% of the company’s stock.

Institutional Trading of Kymera Therapeutics

Several hedge funds have recently made changes to their positions in KYMR. Blue Trust Inc. raised its holdings in shares of Kymera Therapeutics by 74.8% in the 4th quarter. Blue Trust Inc. now owns 631 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. State of Wyoming purchased a new stake in Kymera Therapeutics during the fourth quarter worth about $45,000. GF Fund Management CO. LTD. purchased a new stake in Kymera Therapeutics during the fourth quarter worth about $55,000. KBC Group NV lifted its holdings in shares of Kymera Therapeutics by 15.2% in the first quarter. KBC Group NV now owns 2,479 shares of the company’s stock valued at $68,000 after purchasing an additional 328 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Kymera Therapeutics in the first quarter valued at about $68,000.

Kymera Therapeutics Company Profile

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.