Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Up – Here’s What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $99.87, but opened at $108.80. Kymera Therapeutics shares last traded at $119.5040, with a volume of 943,860 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on KYMR. Morgan Stanley reiterated an “overweight” rating and set a $119.00 price objective on shares of Kymera Therapeutics in a report on Thursday, April 30th. Canaccord Genuity Group initiated coverage on shares of Kymera Therapeutics in a research report on Wednesday, May 6th. They set a “buy” rating and a $106.00 price target for the company. Piper Sandler increased their price target on shares of Kymera Therapeutics from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Jefferies Financial Group assumed coverage on shares of Kymera Therapeutics in a research note on Monday, March 16th. They set a “buy” rating and a $110.00 price target on the stock. Finally, BTIG Research decreased their price target on shares of Kymera Therapeutics from $138.00 to $134.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.14.

Kymera Therapeutics Stock Performance

The company has a market capitalization of $9.61 billion, a PE ratio of -32.61 and a beta of 2.02. The business has a fifty day moving average price of $83.90 and a 200 day moving average price of $81.77.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.18. The business had revenue of $34.37 million during the quarter, compared to analysts’ expectations of $8.27 million. Kymera Therapeutics had a negative return on equity of 24.71% and a negative net margin of 611.94%.The company’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.82) EPS. Research analysts forecast that Kymera Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, insider Noah Goodman sold 8,264 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $87.50, for a total transaction of $723,100.00. Following the completion of the sale, the insider directly owned 53,542 shares in the company, valued at $4,684,925. The trade was a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $81.18, for a total transaction of $2,435,400.00. Following the completion of the sale, the chief executive officer directly owned 666,195 shares of the company’s stock, valued at $54,081,710.10. The trade was a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 630,876 shares of company stock valued at $58,863,238. 15.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its position in shares of Kymera Therapeutics by 382.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock worth $42,000 after buying an additional 424 shares during the period. Larson Financial Group LLC raised its holdings in shares of Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after buying an additional 349 shares during the period. Osaic Holdings Inc. lifted its position in Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock worth $48,000 after acquiring an additional 1,083 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Kymera Therapeutics during the 4th quarter worth approximately $63,000. Finally, Raymond James Financial Inc. purchased a new position in Kymera Therapeutics in the 2nd quarter worth approximately $73,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.