Kymera Therapeutics (NASDAQ:KYMR) Shares Up 6.4% – Here’s What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price shot up 6.4% during trading on Tuesday . The company traded as high as $39.83 and last traded at $39.60. 96,796 shares were traded during trading, a decline of 77% from the average session volume of 412,401 shares. The stock had previously closed at $37.22.

Analysts Set New Price Targets

Several equities analysts have weighed in on KYMR shares. BMO Capital Markets started coverage on Kymera Therapeutics in a research report on Friday, December 6th. They issued a “market perform” rating and a $55.00 target price for the company. BTIG Research started coverage on shares of Kymera Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $60.00 target price on the stock. UBS Group decreased their price target on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Stephens assumed coverage on Kymera Therapeutics in a research report on Monday, November 18th. They set an “overweight” rating and a $65.00 price objective on the stock. Finally, Oppenheimer lifted their target price on Kymera Therapeutics from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.38.

Kymera Therapeutics Stock Up 6.6 %

The company has a market cap of $2.57 billion, a PE ratio of -16.96 and a beta of 2.19. The firm has a fifty day simple moving average of $43.72 and a 200-day simple moving average of $44.18.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.01. The company had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $10.34 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.90) earnings per share. Equities research analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other news, insider Ellen Chiniara sold 3,129 shares of Kymera Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $41.75, for a total value of $130,635.75. Following the sale, the insider now owns 54,826 shares of the company’s stock, valued at $2,288,985.50. The trade was a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its stake in shares of Kymera Therapeutics by 85.8% in the third quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock valued at $37,754,000 after buying an additional 368,394 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Kymera Therapeutics by 7.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock worth $218,587,000 after purchasing an additional 308,954 shares during the period. FMR LLC lifted its stake in shares of Kymera Therapeutics by 5.8% in the third quarter. FMR LLC now owns 5,109,141 shares of the company’s stock valued at $241,816,000 after purchasing an additional 282,301 shares during the period. Driehaus Capital Management LLC purchased a new stake in Kymera Therapeutics during the second quarter worth about $6,669,000. Finally, Renaissance Technologies LLC acquired a new position in Kymera Therapeutics during the second quarter worth about $4,271,000.

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.