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

Kymera Therapeutics, Inc. (NASDAQ:KYMR) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $138.62 and last traded at $139.9860, with a volume of 685,730 shares changing hands. The stock had previously closed at $131.73.

Analyst Upgrades and Downgrades

KYMR has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on Kymera Therapeutics from $116.00 to $151.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Barclays upped their price objective on Kymera Therapeutics from $139.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Kymera Therapeutics in a report on Thursday, July 30th. They set a “hold” rating and a $120.00 target price on the stock. Citigroup boosted their price target on shares of Kymera Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Finally, Morgan Stanley upped their price target on shares of Kymera Therapeutics from $135.00 to $146.00 and gave the company an “overweight” rating in a report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.16.

Kymera Therapeutics Trading Up 6.2%

The stock has a fifty day simple moving average of $115.68 and a 200-day simple moving average of $97.81. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of -38.55 and a beta of 2.04.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Thursday, October 29th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.06). The business had revenue of $1.35 million during the quarter, compared to the consensus estimate of $3.28 million. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 22.39%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned ($0.94) EPS. Sell-side analysts forecast that Kymera Therapeutics, Inc. will post -3.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In related news, 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 transaction of $744,323.93. Following the completion of the transaction, the insider owned 50,254 shares in the company, valued at approximately $5,871,174.82. The trade was a 11.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $113.80, for a total value of $3,414,000.00. Following 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 SEC filing for this sale provides additional information. 15.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Kymera Therapeutics

A number of institutional investors have recently made changes to their positions in KYMR. Merck & Co. Inc. bought a new position in Kymera Therapeutics in the second quarter valued at approximately $88,544,161. Legal & General Group Plc acquired a new stake in shares of Kymera Therapeutics in the 2nd quarter valued at approximately $4,155,000. Deutsche Bank AG acquired a new stake in shares of Kymera Therapeutics in the 2nd quarter valued at approximately $12,161,000. Eagle Health Investments LP acquired a new stake in shares of Kymera Therapeutics in the 2nd quarter valued at approximately $19,052,000. Finally, Bank of America Corp DE bought a new position in shares of Kymera Therapeutics in the second quarter valued at $43,378,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company developing medicines that selectively remove disease-causing proteins from cells. Its approach, known as targeted protein degradation, uses the body’s natural protein-disposal system and is designed to address targets that may be difficult to reach with conventional drugs.

The company’s research and development programs include small-molecule protein degraders for conditions involving immune and inflammatory pathways, as well as cancer.