Kymera Therapeutics (NASDAQ:KYMR) Shares Up 8.4% – What’s Next?

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price traded up 8.4% during trading on Wednesday . The company traded as high as $80.91 and last traded at $80.6960. 254,872 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 756,685 shares. The stock had previously closed at $74.42.

Analyst Ratings Changes

A number of research analysts have weighed in on KYMR shares. HC Wainwright lifted their target price on Kymera Therapeutics from $84.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Leerink Partners increased their price target on shares of Kymera Therapeutics from $70.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, December 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, February 26th. Jefferies Financial Group initiated coverage on shares of Kymera Therapeutics in a report on Monday, March 16th. They set a “buy” rating and a $110.00 target price on the stock. Finally, UBS Group increased their target price on shares of Kymera Therapeutics from $90.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $118.90.

Kymera Therapeutics Stock Performance

The firm has a market cap of $6.42 billion, a PE ratio of -21.28 and a beta of 2.20. The company’s 50-day simple moving average is $79.80 and its two-hundred day simple moving average is $70.30.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, February 26th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.20). Kymera Therapeutics had a negative net margin of 794.04% and a negative return on equity of 28.71%. The business had revenue of $2.87 million for the quarter, compared to the consensus estimate of $14.80 million. During the same quarter in the prior year, the company earned ($0.88) EPS. Kymera Therapeutics’s revenue was down 60.8% compared to the same quarter last year. On average, analysts expect that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Transactions at Kymera Therapeutics

In other news, COO Jeremy G. Chadwick sold 25,758 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $83.30, for a total value of $2,145,641.40. Following the transaction, the chief operating officer owned 68,052 shares in the company, valued at approximately $5,668,731.60. This represents a 27.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jared Gollob sold 5,613 shares of Kymera Therapeutics stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $88.93, for a total value of $499,164.09. Following the completion of the sale, the insider owned 122,029 shares of the company’s stock, valued at $10,852,038.97. The trade was a 4.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 196,561 shares of company stock worth $17,097,428 over the last quarter. Corporate insiders own 16.01% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its position in shares of Kymera Therapeutics by 382.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock worth $42,000 after purchasing an additional 424 shares during the period. Larson Financial Group LLC lifted its stake in shares of Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after buying an additional 349 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Kymera Therapeutics during the 4th quarter valued at $63,000. PNC Financial Services Group Inc. boosted its holdings in Kymera Therapeutics by 506.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock worth $40,000 after buying an additional 770 shares during the period. Finally, Bessemer Group Inc. increased its stake in 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 in the last quarter.

About Kymera Therapeutics

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.