Kymera Therapeutics (NASDAQ:KYMR) Reaches New 1-Year High After Analyst Upgrade

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price hit a new 52-week high on Wednesday after Oppenheimer raised their price target on the stock from $53.00 to $63.00. Oppenheimer currently has an outperform rating on the stock. Kymera Therapeutics traded as high as $58.93 and last traded at $56.60, with a volume of 1002412 shares changing hands. The stock had previously closed at $58.50.

A number of other research firms have also weighed in on KYMR. HC Wainwright raised their price objective on shares of Kymera Therapeutics from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. BTIG Research reissued a “buy” rating and set a $59.00 price target on shares of Kymera Therapeutics in a research report on Thursday, June 26th. The Goldman Sachs Group upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a report on Tuesday, July 15th. Barclays assumed coverage on Kymera Therapeutics in a research note on Wednesday, September 17th. They set an “overweight” rating and a $60.00 target price on the stock. Finally, Truist Financial boosted their price target on Kymera Therapeutics from $53.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $61.26.

Insider Transactions at Kymera Therapeutics

In other news, CEO Nello Mainolfi sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the transaction, the chief executive officer owned 660,482 shares of the company’s stock, valued at $32,363,618. This trade represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bruce N. Jacobs sold 79,220 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 227,409 shares of the company’s stock, valued at approximately $11,370,450. This trade represents a 25.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.01% of the company’s stock.

Institutional Trading of Kymera Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of KYMR. KBC Group NV lifted its stake in shares of Kymera Therapeutics by 15.2% during the 1st quarter. KBC Group NV now owns 2,479 shares of the company’s stock valued at $68,000 after buying an additional 328 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Kymera Therapeutics by 15.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,516 shares of the company’s stock valued at $110,000 after acquiring an additional 343 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Kymera Therapeutics by 642.9% in the second quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock valued at $27,000 after acquiring an additional 540 shares in the last quarter. Comerica Bank boosted its stake in shares of Kymera Therapeutics by 3.6% in the first quarter. Comerica Bank now owns 21,374 shares of the company’s stock worth $585,000 after acquiring an additional 743 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Kymera Therapeutics by 506.6% in the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock worth $40,000 after acquiring an additional 770 shares during the period.

Kymera Therapeutics Trading Up 2.5%

The firm has a 50 day moving average of $45.43 and a 200-day moving average of $39.18. The company has a market cap of $4.00 billion, a P/E ratio of -16.14 and a beta of 2.26.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.The business had revenue of $11.48 million during the quarter, compared to the consensus estimate of $17.37 million. During the same quarter in the previous year, the company earned ($0.58) earnings per share. The company’s revenue for the quarter was down 55.1% compared to the same quarter last year. Equities analysts predict that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

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.