Kymera Therapeutics (NASDAQ:KYMR) Shares Up 6.8% – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR) traded up 6.8% during mid-day trading on Wednesday . The stock traded as high as $47.84 and last traded at $47.84. 59,268 shares changed hands during trading, a decline of 90% from the average session volume of 609,035 shares. The stock had previously closed at $44.80.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KYMR. Leerink Partners reaffirmed an “outperform” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research note on Monday, September 9th. Leerink Partnrs upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. B. Riley upped their price target on Kymera Therapeutics from $31.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Morgan Stanley upped their target price on Kymera Therapeutics from $34.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Finally, Oppenheimer raised their price target on shares of Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Kymera Therapeutics Stock Up 0.3 %

The company has a market cap of $2.85 billion, a price-to-earnings ratio of -18.49 and a beta of 2.21. The business has a 50-day simple moving average of $46.36 and a two-hundred day simple moving average of $39.81.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.10. Kymera Therapeutics had a negative return on equity of 28.88% and a negative net margin of 178.27%. The firm had revenue of $25.60 million during the quarter, compared to analysts’ expectations of $12.55 million. During the same quarter in the prior year, the business earned ($0.67) earnings per share. The company’s revenue was up 55.2% on a year-over-year basis. As a group, equities analysts anticipate that Kymera Therapeutics, Inc. will post -2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Pamela Esposito sold 13,500 shares of Kymera Therapeutics stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total value of $651,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.10, for a total value of $245,500.00. The disclosure for this sale can be found here. Insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its stake in shares of Kymera Therapeutics by 7.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock valued at $164,000 after buying an additional 295 shares in the last quarter. Comerica Bank boosted its holdings in Kymera Therapeutics by 13.7% during the first quarter. Comerica Bank now owns 3,324 shares of the company’s stock valued at $134,000 after purchasing an additional 400 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in shares of Kymera Therapeutics by 7.2% in the 2nd quarter. Keudell Morrison Wealth Management now owns 7,105 shares of the company’s stock worth $212,000 after buying an additional 480 shares in the last quarter. Congress Asset Management Co. MA grew its position in Kymera Therapeutics by 1.2% in the first quarter. Congress Asset Management Co. MA now owns 45,836 shares of the company’s stock valued at $1,843,000 after acquiring an additional 533 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Kymera Therapeutics by 4.7% during the first quarter. Principal Financial Group Inc. now owns 12,098 shares of the company’s stock worth $486,000 after acquiring an additional 547 shares in 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.