Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Up After Analyst Upgrade

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) gapped up prior to trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $73.00 to $122.00. The stock had previously closed at $86.88, but opened at $93.07. Jefferies Financial Group currently has a buy rating on the stock. Kymera Therapeutics shares last traded at $87.0340, with a volume of 1,024,101 shares traded.

KYMR has been the subject of a number of other research reports. UBS Group upgraded Kymera Therapeutics to a “strong-buy” rating in a report on Thursday, December 4th. BTIG Research set a $138.00 price objective on shares of Kymera Therapeutics in a research note on Monday. Morgan Stanley lifted their price target on shares of Kymera Therapeutics from $73.00 to $127.00 and gave the company an “overweight” rating in a report on Tuesday. Stifel Nicolaus set a $114.00 price objective on shares of Kymera Therapeutics in a research note on Monday. Finally, Mizuho initiated coverage on Kymera Therapeutics in a research note on Tuesday, October 21st. They set an “outperform” rating and a $81.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $105.30.

Insider Activity

In related news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $89.76, for a total transaction of $448,800.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Bruce N. Jacobs sold 79,220 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $50.00, for a total value of $3,961,000.00. Following the completion of the transaction, the chief financial officer directly owned 227,409 shares in the company, valued at $11,370,450. This trade represents a 25.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 361,217 shares of company stock valued at $25,140,500 over the last ninety days. 16.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Kymera Therapeutics by 13.0% during the 1st quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company’s stock worth $164,134,000 after buying an additional 689,547 shares during the period. BVF Inc. IL lifted its position in Kymera Therapeutics by 6.6% in the second quarter. BVF Inc. IL now owns 5,502,710 shares of the company’s stock valued at $240,138,000 after purchasing an additional 340,909 shares during the last quarter. Vanguard Group Inc. grew its position in Kymera Therapeutics by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company’s stock valued at $143,183,000 after purchasing an additional 344,080 shares during the last quarter. Siren L.L.C. grew its holdings in Kymera Therapeutics by 9.1% during the 1st quarter. Siren L.L.C. now owns 3,240,313 shares of the company’s stock valued at $88,687,000 after buying an additional 270,580 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Kymera Therapeutics by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,193,112 shares of the company’s stock valued at $52,075,000 after buying an additional 59,347 shares in the last quarter.

Kymera Therapeutics Trading Up 1.9%

The firm’s fifty day moving average price is $62.80 and its 200 day moving average price is $50.90. The firm has a market capitalization of $6.37 billion, a PE ratio of -24.47 and a beta of 2.28.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.19). The business had revenue of $2.76 million during the quarter, compared to analysts’ expectations of $23.15 million. Kymera Therapeutics had a negative return on equity of 32.92% and a negative net margin of 674.81%. On average, analysts predict that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

About Kymera Therapeutics

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.