Kymera Therapeutics (NASDAQ:KYMR) Reaches New 52-Week High – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price reached a new 52-week high during trading on Monday. The stock traded as high as $138.62 and last traded at $139.9860, with a volume of 685,730 shares. The stock had previously closed at $131.73.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Loop Capital set a $132.00 price objective on shares of Kymera Therapeutics in a report on Thursday, October 29th. TD Cowen upgraded Kymera Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Brookline Capital Markets reaffirmed a “buy” rating on shares of Kymera Therapeutics in a research report on Thursday, October 29th. Barclays lifted their price objective on Kymera Therapeutics from $139.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Kymera Therapeutics in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.16.

Kymera Therapeutics Stock Down 1.3%

The company has a market cap of $11.51 billion, a P/E ratio of -37.25 and a beta of 2.04. The company has a fifty day moving average of $116.45 and a 200 day moving average of $98.47.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.06). Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 22.39%. The firm had revenue of $1.35 million during the quarter, compared to the consensus estimate of $3.28 million. During the same period in the prior year, the company posted ($0.94) EPS. The firm’s revenue was up .0% compared to the same quarter last year. As a group, research analysts forecast that Kymera Therapeutics, Inc. will post -3.88 EPS for the current year.

Insider Activity at Kymera Therapeutics

In related news, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $113.80, for a total value of $3,414,000.00. Following the completion of the sale, the chief executive officer directly owned 666,568 shares of the company’s stock, valued at approximately $75,855,438.40. This represents a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Adams sold 6,371 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $116.83, for a total transaction of $744,323.93. Following the sale, the insider owned 50,254 shares in the company, valued at approximately $5,871,174.82. The trade was a 11.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 15.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KYMR. BlackRock Inc. bought a new position in Kymera Therapeutics in the 2nd quarter worth $635,067,000. Merck & Co. Inc. bought a new stake in Kymera Therapeutics during the 2nd quarter valued at approximately $88,544,161. Bank of America Corp DE purchased a new position in Kymera Therapeutics in the 2nd quarter worth approximately $43,378,000. Braidwell LP lifted its holdings in Kymera Therapeutics by 12.0% in the 2nd quarter. Braidwell LP now owns 378,163 shares of the company’s stock worth $43,364,000 after purchasing an additional 40,604 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Kymera Therapeutics by 2.5% during the first quarter. Jennison Associates LLC now owns 508,999 shares of the company’s stock worth $42,395,000 after acquiring an additional 12,334 shares during the last quarter.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc. is a clinical-stage biotechnology company developing medicines that selectively remove disease-causing proteins from cells. Its approach, known as targeted protein degradation, uses the body’s natural protein-disposal system and is designed to address targets that may be difficult to reach with conventional drugs. The company’s research and development programs include small-molecule protein degraders for conditions involving immune and inflammatory pathways, as well as cancer.