Kymera Therapeutics (NASDAQ:KYMR) Trading 6.4% Higher – Time to Buy?

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares shot up 6.4% during mid-day trading on Tuesday . The stock traded as high as $39.83 and last traded at $39.60. 96,796 shares changed hands during trading, a decline of 77% from the average session volume of 412,401 shares. The stock had previously closed at $37.22.

Analyst Upgrades and Downgrades

KYMR has been the topic of a number of recent research reports. Stephens initiated coverage on Kymera Therapeutics in a research note on Monday, November 18th. They issued an “overweight” rating and a $65.00 target price on the stock. Guggenheim raised their target price on Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company upgraded Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $38.00 to $57.00 in a research note on Monday, December 2nd. BTIG Research initiated coverage on Kymera Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Oppenheimer raised their target price on Kymera Therapeutics from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.38.

Kymera Therapeutics Trading Down 7.2 %

The company has a market cap of $2.62 billion, a price-to-earnings ratio of -17.28 and a beta of 2.19. The business has a 50-day moving average price of $43.45 and a 200 day moving average price of $44.25.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.01. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company had revenue of $3.74 million for the quarter, compared to analyst estimates of $10.34 million. During the same period in the previous year, the firm earned ($0.90) earnings per share. Kymera Therapeutics’s revenue for the quarter was down 20.9% compared to the same quarter last year. On average, analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In other news, insider Ellen Chiniara sold 3,129 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $41.75, for a total transaction of $130,635.75. Following the sale, the insider now owns 54,826 shares in the company, valued at $2,288,985.50. The trade was a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Kymera Therapeutics by 11.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 453,377 shares of the company’s stock valued at $21,458,000 after acquiring an additional 47,507 shares during the period. Eventide Asset Management LLC raised its holdings in shares of Kymera Therapeutics by 9.9% during the third quarter. Eventide Asset Management LLC now owns 507,902 shares of the company’s stock valued at $24,039,000 after acquiring an additional 45,803 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Kymera Therapeutics during the second quarter valued at approximately $4,271,000. E Fund Management Co. Ltd. raised its holdings in shares of Kymera Therapeutics by 391.2% during the second quarter. E Fund Management Co. Ltd. now owns 48,946 shares of the company’s stock valued at $1,461,000 after acquiring an additional 38,981 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Kymera Therapeutics during the third quarter valued at approximately $650,000.

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.