Kymera Therapeutics (NASDAQ:KYMR) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $114.90 and traded as high as $119.68. Kymera Therapeutics shares last traded at $117.57, with a volume of 827,856 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on KYMR. Guggenheim boosted their target price on shares of Kymera Therapeutics from $135.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Stifel Nicolaus boosted their price target on Kymera Therapeutics from $132.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Kymera Therapeutics in a report on Thursday, July 30th. They issued a “hold” rating and a $120.00 price objective for the company. Royal Bank Of Canada lowered Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $106.00 to $115.00 in a report on Monday, July 13th. Finally, Mizuho upped their price target on Kymera Therapeutics from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Kymera Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.12.

Kymera Therapeutics Stock Performance

The firm’s fifty day moving average price is $114.90 and its 200 day moving average price is $95.60.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. The company had revenue of $65.00 million during the quarter, compared to analyst estimates of $32.78 million. During the same period last year, the company posted ($0.95) earnings per share. The company’s revenue was up 465.2% compared to the same quarter last year. As a group, sell-side analysts predict that Kymera Therapeutics, Inc. will post -3.85 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In other news, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $113.80, for a total transaction of $3,414,000.00. Following the completion of the sale, the chief executive officer directly owned 666,568 shares in the company, valued at $75,855,438.40. The trade was a 4.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Adams sold 6,371 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $116.83, for a total value of $744,323.93. Following the completion of the sale, the insider directly owned 50,254 shares of the company’s stock, valued at approximately $5,871,174.82. The trade was a 11.25% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 15.98% of the company’s stock.

Institutional Trading of Kymera Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Kymera Therapeutics by 27.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $52,000 after acquiring an additional 98 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Kymera Therapeutics by 236.5% in the 3rd quarter. IFP Advisors Inc now owns 737 shares of the company’s stock valued at $82,000 after purchasing an additional 518 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Kymera Therapeutics by 56.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,285 shares of the company’s stock valued at $107,000 after purchasing an additional 463 shares during the last quarter. Nykredit A S bought a new stake in Kymera Therapeutics in the second quarter worth $207,000. Finally, Sterling Capital Management LLC boosted its holdings in Kymera Therapeutics by 378.6% in the third quarter. Sterling Capital Management LLC now owns 1,919 shares of the company’s stock worth $215,000 after purchasing an additional 1,518 shares in the last quarter.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins through targeted protein degradation. Its approach is designed to use the cell’s natural protein-disposal system to remove proteins that may be difficult to address with conventional drug modalities.

The company’s research and development programs have targeted a range of disease areas, including immune-mediated and inflammatory conditions, cancer, and other serious illnesses.