Kymera Therapeutics (NASDAQ:KYMR) Sees Large Volume Increase – Still a Buy?

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) saw strong trading volume on Tuesday . Approximately 2,086,578 shares changed hands during mid-day trading, an increase of 185% from the previous session’s volume of 731,507 shares.The stock last traded at $107.30 and had previously closed at $108.58.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Canaccord Genuity Group boosted their target price on Kymera Therapeutics from $106.00 to $129.00 and gave the company a “buy” rating in a research report on Friday, June 26th. BTIG Research reiterated a “buy” rating and set a $134.00 price objective on shares of Kymera Therapeutics in a research note on Thursday, June 25th. Guggenheim boosted their target price on shares of Kymera Therapeutics from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. B. Riley Financial increased their price objective on Kymera Therapeutics from $117.00 to $155.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kymera Therapeutics in a research note on Thursday, July 30th. They issued a “hold” rating and a $120.00 target price for the company. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.65.

Kymera Therapeutics Price Performance

The stock has a fifty day simple moving average of $101.92 and a 200-day simple moving average of $89.21. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of -33.33 and a beta of 1.95.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The company had revenue of $65.00 million for the quarter, compared to analyst estimates of $32.78 million. During the same quarter last year, the business earned ($0.95) earnings per share. The firm’s revenue was up 465.2% on a year-over-year basis. As a group, equities analysts expect that Kymera Therapeutics, Inc. will post -3.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Kymera Therapeutics news, insider Noah Goodman sold 3,389 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $114.29, for a total transaction of $387,328.81. Following the completion of the transaction, the insider owned 47,179 shares of the company’s stock, valued at $5,392,087.91. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bruce N. Jacobs sold 77,109 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total value of $8,864,450.64. Following the completion of the transaction, the chief financial officer owned 244,883 shares in the company, valued at $28,151,749.68. The trade was a 23.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,604,813 shares of company stock worth $387,557,004 in the last 90 days. 15.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Kymera Therapeutics in the second quarter worth about $635,067,000. Baker BROS. Advisors LP grew its stake in Kymera Therapeutics by 30.2% during the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company’s stock valued at $673,620,000 after acquiring an additional 2,005,813 shares in the last quarter. Avoro Capital Advisors LLC grew its stake in Kymera Therapeutics by 17.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company’s stock valued at $581,610,000 after acquiring an additional 1,124,747 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Kymera Therapeutics by 20.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,159,335 shares of the company’s stock valued at $479,258,000 after acquiring an additional 1,061,957 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Kymera Therapeutics by 15.6% in the 4th quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company’s stock valued at $487,685,000 after acquiring an additional 845,922 shares during the last quarter.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.