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

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

Analysts Set New Price Targets

Several research analysts have commented on KYMR shares. Citigroup initiated coverage on shares of Kymera Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $52.00 price objective for the company. Stephens reissued an “overweight” rating and set a $60.00 price target on shares of Kymera Therapeutics in a report on Tuesday, January 21st. HC Wainwright raised their price objective on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Leerink Partners reissued an “outperform” rating and set a $60.00 target price on shares of Kymera Therapeutics in a research note on Friday, December 27th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kymera Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

Kymera Therapeutics Stock Up 7.7 %

The company has a market cap of $1.57 billion, a P/E ratio of -10.31 and a beta of 2.22. The firm’s 50 day moving average is $31.62 and its two-hundred day moving average is $39.76.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.12). The company had revenue of $7.39 million during the quarter, compared to analyst estimates 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, research analysts forecast that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Transactions at Kymera Therapeutics

In other Kymera Therapeutics news, COO Jeremy G. Chadwick sold 1,383 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $42,112.35. Following the sale, the chief operating officer now owns 67,800 shares of the company’s stock, valued at approximately $2,064,510. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ellen Chiniara sold 2,241 shares of Kymera Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $68,238.45. Following the completion of the transaction, the insider now directly owns 80,085 shares of the company’s stock, valued at approximately $2,438,588.25. This trade represents a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,659 shares of company stock worth $324,567. Company insiders own 15.82% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of KYMR. Blue Trust Inc. boosted its stake in Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after acquiring an additional 270 shares in the last quarter. State of Wyoming bought a new position in shares of Kymera Therapeutics during the 4th quarter worth about $45,000. GF Fund Management CO. LTD. acquired a new stake in shares of Kymera Therapeutics in the 4th quarter valued at about $55,000. KBC Group NV increased its position in Kymera Therapeutics by 53.8% in the 4th quarter. KBC Group NV now owns 2,151 shares of the company’s stock valued at $87,000 after buying an additional 752 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Kymera Therapeutics by 3,851.5% during the 1st quarter. GAMMA Investing LLC now owns 6,678 shares of the company’s stock worth $183,000 after buying an additional 6,509 shares during the period.

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.