Kymera Therapeutics (NASDAQ:KYMR) Sets New 52-Week High – Here’s What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $64.55 and last traded at $63.34, with a volume of 643986 shares. The stock had previously closed at $61.26.

Wall Street Analyst Weigh In

KYMR has been the subject of a number of research analyst reports. The Goldman Sachs Group raised Kymera Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Kymera Therapeutics in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kymera Therapeutics in a research note on Wednesday, October 8th. Guggenheim began coverage on Kymera Therapeutics in a report on Monday, November 3rd. They set a “buy” rating and a $90.00 price objective for the company. Finally, Royal Bank Of Canada began coverage on shares of Kymera Therapeutics in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Kymera Therapeutics Stock Performance

The stock has a market cap of $4.56 billion, a price-to-earnings ratio of -17.65 and a beta of 2.32. The business’s fifty day simple moving average is $54.59 and its 200 day simple moving average is $45.51.

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

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $59.19, for a total transaction of $295,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Bruce N. Jacobs sold 79,220 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $50.00, for a total value of $3,961,000.00. Following the completion of the sale, the chief financial officer directly owned 227,409 shares in the company, valued at $11,370,450. This represents a 25.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 206,910 shares of company stock worth $11,402,648 over the last 90 days. Insiders own 16.01% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Institutional investors have recently modified their holdings of the stock. Siren L.L.C. grew its holdings in shares of Kymera Therapeutics by 9.1% during the 1st quarter. Siren L.L.C. now owns 3,240,313 shares of the company’s stock worth $88,687,000 after purchasing an additional 270,580 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of 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. Farther Finance Advisors LLC boosted its position in shares of Kymera Therapeutics by 642.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock worth $27,000 after acquiring an additional 540 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Kymera Therapeutics by 15.8% in 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 last quarter. Finally, Moody Aldrich Partners LLC acquired a new position in Kymera Therapeutics during the second quarter valued at approximately $1,519,000.

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.