Kymera Therapeutics (NASDAQ:KYMR) Sets New 52-Week High – Here’s What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $68.80 and last traded at $67.8650, with a volume of 156142 shares. The stock had previously closed at $66.04.

Analysts Set New Price Targets

A number of research firms recently commented on KYMR. Truist Financial increased their target price on shares of Kymera Therapeutics from $53.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Oppenheimer reissued an “outperform” rating and set a $67.00 price target on shares of Kymera Therapeutics in a report on Tuesday, November 4th. Guggenheim assumed coverage on shares of Kymera Therapeutics in a report on Monday, November 3rd. They set a “buy” rating and a $90.00 price objective on the stock. Wall Street Zen upgraded Kymera Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Citigroup increased their price target on shares of Kymera Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.75.

Kymera Therapeutics Trading Down 0.6%

The company has a market capitalization of $4.72 billion, a P/E ratio of -18.29 and a beta of 2.32. The business’s fifty day moving average price is $58.31 and its 200-day moving average price is $47.51.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.19). The business had revenue of $2.76 million for the quarter, compared to analysts’ expectations of $23.15 million. Kymera Therapeutics had a negative net margin of 674.81% and a negative return on equity of 32.92%. As a group, equities research analysts forecast that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Buying and Selling

In other news, insider Jared Gollob sold 59,576 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $61.42, for a total value of $3,659,157.92. Following the sale, the insider directly owned 109,992 shares of the company’s stock, valued at approximately $6,755,708.64. This represents a 35.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bruce N. Jacobs sold 79,220 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $50.00, for a total transaction of $3,961,000.00. Following the transaction, the chief financial officer owned 227,409 shares in the company, valued at $11,370,450. This represents a 25.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 206,910 shares of company stock worth $11,402,648. 16.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in shares of Kymera Therapeutics by 642.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock worth $27,000 after purchasing an additional 540 shares during the period. PNC Financial Services Group Inc. increased its position in Kymera Therapeutics by 506.6% during the 2nd 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 period. Larson Financial Group LLC lifted its holdings in Kymera Therapeutics by 81.5% during the third quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock worth $44,000 after buying an additional 349 shares during the period. Osaic Holdings Inc. boosted its position in Kymera Therapeutics by 18,050.0% during the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock valued at $48,000 after purchasing an additional 1,083 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Kymera Therapeutics by 652.0% in the 3rd quarter. Bessemer Group Inc. now owns 940 shares of the company’s stock worth $53,000 after buying an additional 815 shares during the last quarter.

About Kymera Therapeutics

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.