Kymera Therapeutics (NASDAQ:KYMR) Shares Up 8.3% – Here’s What Happened

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) traded up 8.3% during trading on Friday . The company traded as high as $24.16 and last traded at $24.27. 394,641 shares were traded during trading, a decline of 28% from the average session volume of 546,864 shares. The stock had previously closed at $22.40.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup initiated coverage on shares of Kymera Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $52.00 price objective on the stock. Stephens reiterated an “overweight” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research note on Tuesday, January 21st. HC Wainwright boosted their price objective on Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Leerink Partners restated an “outperform” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a report on Friday, December 27th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kymera Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $56.36.

Kymera Therapeutics Price Performance

The stock’s 50 day simple moving average is $31.62 and its two-hundred day simple moving average is $39.76. The stock has a market capitalization of $1.57 billion, a PE ratio of -10.31 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). The firm had revenue of $7.39 million during the quarter, compared to the consensus estimate of $14.81 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. As a group, equities research analysts predict that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kymera Therapeutics news, insider Ellen Chiniara sold 2,241 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.45, for a total transaction of $68,238.45. Following the sale, the insider now owns 80,085 shares in the company, valued at $2,438,588.25. This represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Bruce N. Jacobs sold 7,035 shares of Kymera Therapeutics stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $214,215.75. Following the completion of the transaction, the chief financial officer now owns 201,886 shares of the company’s stock, valued at approximately $6,147,428.70. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,659 shares of company stock valued at $324,567. Company insiders own 15.82% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of KYMR. Rhumbline Advisers increased its holdings in Kymera Therapeutics by 9.0% during the 1st quarter. Rhumbline Advisers now owns 69,928 shares of the company’s stock worth $1,914,000 after acquiring an additional 5,771 shares during the period. GAMMA Investing LLC increased its holdings in shares of Kymera Therapeutics by 3,851.5% in the first quarter. GAMMA Investing LLC now owns 6,678 shares of the company’s stock worth $183,000 after purchasing an additional 6,509 shares during the period. California State Teachers Retirement System raised its position in shares of Kymera Therapeutics by 12.6% in the fourth quarter. California State Teachers Retirement System now owns 36,839 shares of the company’s stock worth $1,482,000 after buying an additional 4,131 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Kymera Therapeutics during the fourth quarter valued at $4,610,000. Finally, GF Fund Management CO. LTD. bought a new stake in Kymera Therapeutics during the fourth quarter valued at $55,000.

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 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.