Kymera Therapeutics, Inc. (NASDAQ:KYMR) Sees Large Growth in Short Interest

Kymera Therapeutics, Inc. (NASDAQ:KYMR) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 8,100,000 shares, a growth of 10.7% from the October 15th total of 7,320,000 shares. Based on an average daily volume of 582,200 shares, the days-to-cover ratio is presently 13.9 days.

Kymera Therapeutics Stock Up 8.1 %

Shares of Kymera Therapeutics stock traded up $1.45 on Friday, hitting $19.46. 400,978 shares of the company traded hands, compared to its average volume of 539,768. Kymera Therapeutics has a 12-month low of $9.60 and a 12-month high of $39.85. The company has a market cap of $1.08 billion, a PE ratio of -6.78 and a beta of 1.66. The company has a 50-day moving average price of $14.87 and a 200 day moving average price of $20.77.

Insider Buying and Selling

In related news, Director Bvf Partners L. P/Il purchased 216,406 shares of Kymera Therapeutics stock in a transaction dated Thursday, November 2nd. The stock was bought at an average cost of $11.64 per share, with a total value of $2,518,965.84. Following the purchase, the director now owns 2,552,306 shares in the company, valued at approximately $29,708,841.84. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 16.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KYMR. Raymond James & Associates grew its position in Kymera Therapeutics by 1.9% in the fourth quarter. Raymond James & Associates now owns 16,781 shares of the company’s stock worth $419,000 after acquiring an additional 317 shares in the last quarter. Legal & General Group Plc increased its position in Kymera Therapeutics by 1.3% during the fourth quarter. Legal & General Group Plc now owns 33,154 shares of the company’s stock worth $828,000 after buying an additional 424 shares during the last quarter. Congress Asset Management Co. MA raised its holdings in Kymera Therapeutics by 1.2% during the second quarter. Congress Asset Management Co. MA now owns 45,125 shares of the company’s stock valued at $1,037,000 after buying an additional 556 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Kymera Therapeutics by 5.1% in the first quarter. E Fund Management Co. Ltd. now owns 11,870 shares of the company’s stock worth $352,000 after buying an additional 578 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Kymera Therapeutics by 3.7% during the 2nd quarter. American International Group Inc. now owns 17,698 shares of the company’s stock worth $348,000 after acquiring an additional 638 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their target price on Kymera Therapeutics from $48.00 to $52.00 and gave the company a “buy” rating in a report on Monday, August 7th. Credit Suisse Group raised their target price on shares of Kymera Therapeutics from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. HC Wainwright cut their price target on shares of Kymera Therapeutics from $85.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Morgan Stanley decreased their price objective on shares of Kymera Therapeutics from $37.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Piper Sandler cut their target price on shares of Kymera Therapeutics from $58.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.30.

Kymera Therapeutics Company Profile

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 I clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis, macrophage activation syndrome, general pustular psoriasis, and rheumatoid arthritis; IRAKIMiD program to treat MYD88-mutated diffuse large B cell lymphoma; 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.