Kymera Therapeutics (NASDAQ:KYMR) Trading Up 13.8% – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares rose 13.8% on Monday . The stock traded as high as $98.00 and last traded at $102.9250. Approximately 138,930 shares were traded during trading, a decline of 79% from the average daily volume of 664,267 shares. The stock had previously closed at $90.43.

Analysts Set New Price Targets

KYMR has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Tuesday, April 21st. Citigroup raised their price target on shares of Kymera Therapeutics from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Brookline Capital Markets reaffirmed a “buy” rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $108.00 price objective on shares of Kymera Therapeutics in a report on Thursday, February 26th. Finally, BTIG Research cut their target price on Kymera Therapeutics from $138.00 to $134.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.14.

Kymera Therapeutics Price Performance

The company has a market cap of $8.13 billion, a price-to-earnings ratio of -27.74 and a beta of 2.02. The firm has a fifty day simple moving average of $83.16 and a 200 day simple moving average of $81.06.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The business had revenue of $34.37 million during the quarter, compared to the consensus estimate of $8.27 million. During the same period in the prior year, the firm earned ($0.82) EPS. Kymera Therapeutics’s quarterly revenue was up 55.5% compared to the same quarter last year. Analysts expect that Kymera Therapeutics, Inc. will post -3.25 earnings per share for the current year.

Insider Activity

In other news, Director Elena Ridloff sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $87.00, for a total value of $261,000.00. Following the sale, the director directly owned 3,000 shares of the company’s stock, valued at approximately $261,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeremy G. Chadwick sold 4,279 shares of Kymera Therapeutics stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.58, for a total value of $349,080.82. Following the completion of the transaction, the chief operating officer owned 44,018 shares in the company, valued at $3,590,988.44. The trade was a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 143,107 shares of company stock valued at $12,008,834 over the last three months. 15.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Empowered Funds LLC bought a new stake in shares of Kymera Therapeutics in the first quarter valued at approximately $203,000. Glenmede Trust Co. NA increased its position in Kymera Therapeutics by 3.6% during the first quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock worth $565,000 after acquiring an additional 235 shares during the period. Amundi bought a new position in Kymera Therapeutics during the first quarter worth $249,000. California State Teachers Retirement System raised its stake in Kymera Therapeutics by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 56,282 shares of the company’s stock valued at $4,688,000 after purchasing an additional 10,540 shares during the last quarter. Finally, Eagle Health Investments LP boosted its holdings in Kymera Therapeutics by 7.0% in the 1st quarter. Eagle Health Investments LP now owns 145,816 shares of the company’s stock valued at $12,145,000 after purchasing an additional 9,516 shares during the period.

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.