Insider Selling: Kymera Therapeutics, Inc. (NASDAQ:KYMR) CEO Sells 30,000 Shares of Stock

Kymera Therapeutics, Inc. (NASDAQ:KYMR) CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the sale, the chief executive officer now directly owns 660,482 shares in the company, valued at approximately $32,363,618. This represents a 4.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kymera Therapeutics Stock Up 1.0%

Shares of NASDAQ KYMR opened at $43.58 on Wednesday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -18.62 and a beta of 2.18. Kymera Therapeutics, Inc. has a 52-week low of $19.45 and a 52-week high of $53.27. The business’s 50 day moving average is $29.11 and its two-hundred day moving average is $35.65.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.10. The firm had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. Kymera Therapeutics’s revenue for the quarter was up 114.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.69) earnings per share. Analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley raised shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $49.00 to $79.00 in a research report on Tuesday. Citigroup started coverage on Kymera Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $52.00 price target on the stock. Bank of America upgraded Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday. Stifel Nicolaus started coverage on Kymera Therapeutics in a research report on Tuesday, May 20th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Kymera Therapeutics from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.35.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds have recently made changes to their positions in the company. Northern Trust Corp grew its stake in Kymera Therapeutics by 14.0% during the 4th quarter. Northern Trust Corp now owns 437,833 shares of the company’s stock worth $17,614,000 after buying an additional 53,658 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Kymera Therapeutics by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company’s stock worth $15,577,000 after buying an additional 20,346 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Kymera Therapeutics by 205.0% during the fourth quarter. Millennium Management LLC now owns 115,918 shares of the company’s stock worth $4,663,000 after buying an additional 77,912 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Kymera Therapeutics by 7.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,960 shares of the company’s stock worth $1,163,000 after buying an additional 2,011 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Kymera Therapeutics by 174.2% in the 4th quarter. Victory Capital Management Inc. now owns 19,899 shares of the company’s stock valued at $801,000 after purchasing an additional 12,643 shares during the last quarter.

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.