Kymera Therapeutics (NASDAQ:KYMR) Stock Price Up 4.5%

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shot up 4.5% during trading on Thursday . The company traded as high as $35.32 and last traded at $35.28. 318,646 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 742,994 shares. The stock had previously closed at $33.76.

Analysts Set New Price Targets

A number of brokerages have issued reports on KYMR. Bank of America cut Kymera Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $30.00 in a report on Wednesday, January 3rd. Piper Sandler boosted their price objective on shares of Kymera Therapeutics from $39.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Truist Financial increased their target price on shares of Kymera Therapeutics from $41.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Stifel Nicolaus boosted their price target on shares of Kymera Therapeutics from $35.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Kymera Therapeutics from $34.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.89.

Kymera Therapeutics Price Performance

The stock has a 50-day moving average of $39.16 and a 200-day moving average of $27.87.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.19. The company had revenue of $47.90 million during the quarter, compared to analysts’ expectations of $41.94 million. Kymera Therapeutics had a negative net margin of 187.00% and a negative return on equity of 34.83%. The business’s quarterly revenue was up 197.5% on a year-over-year basis. During the same period last year, the business earned ($0.60) EPS. Equities analysts expect that Kymera Therapeutics, Inc. will post -3.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Bruce Booth sold 51,184 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $42.85, for a total transaction of $2,193,234.40. Following the completion of the transaction, the director now directly owns 881,266 shares in the company, valued at approximately $37,762,248.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Jeffrey W. Albers sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $30.05, for a total value of $300,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce Booth sold 51,184 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $42.85, for a total transaction of $2,193,234.40. Following the sale, the director now directly owns 881,266 shares in the company, valued at $37,762,248.10. The disclosure for this sale can be found here. Insiders have sold 484,051 shares of company stock valued at $19,924,711 in the last three months. 16.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Amundi acquired a new position in Kymera Therapeutics during the fourth quarter worth approximately $49,000. Point72 Hong Kong Ltd acquired a new position in shares of Kymera Therapeutics during the 1st quarter worth approximately $53,000. Advisors Asset Management Inc. bought a new stake in Kymera Therapeutics in the 4th quarter valued at $58,000. Royal Bank of Canada lifted its holdings in Kymera Therapeutics by 30.0% during the 2nd quarter. Royal Bank of Canada now owns 2,773 shares of the company’s stock valued at $64,000 after purchasing an additional 640 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Kymera Therapeutics by 65.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the company’s stock worth $67,000 after purchasing an additional 1,146 shares during the period.

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.