Kymera Therapeutics (NASDAQ:KYMR) Hits New 52-Week High on Analyst Upgrade

by · The Markets Daily

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR – Get Free Report) hit a new 52-week high on Tuesday after Barclays raised their price target on the stock from $139.00 to $170.00. Barclays currently has an overweight rating on the stock. Kymera Therapeutics traded as high as $133.88 and last traded at $132.5350, with a volume of 90,061 shares trading hands. The stock had previously closed at $127.51.

Several other equities research analysts also recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price target on shares of Kymera Therapeutics in a research note on Thursday. Guggenheim upped their price objective on shares of Kymera Therapeutics from $135.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Mizuho raised their target price on Kymera Therapeutics from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Wells Fargo & Company raised their target price on Kymera Therapeutics from $116.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.16.

Check Out Our Latest Stock Report on KYMR

Insider Buying and Selling

In other news, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 666,568 shares in the company, valued at approximately $75,855,438.40. This represents a 4.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Adams sold 6,371 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $116.83, for a total transaction of $744,323.93. Following the sale, the insider directly owned 50,254 shares of the company’s stock, valued at $5,871,174.82. The trade was a 11.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 15.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KYMR. GAMMA Investing LLC grew its holdings in Kymera Therapeutics by 27.5% during the 2nd 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. Abel Hall LLC raised its stake in shares of Kymera Therapeutics by 4.0% in the 3rd quarter. Abel Hall LLC now owns 4,870 shares of the company’s stock valued at $544,000 after purchasing an additional 189 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Kymera Therapeutics by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 11,045 shares of the company’s stock valued at $1,267,000 after purchasing an additional 200 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Kymera Therapeutics by 3.6% in the 1st quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock valued at $565,000 after purchasing an additional 235 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Kymera Therapeutics by 7.5% during the first quarter. Cetera Investment Advisers now owns 3,602 shares of the company’s stock worth $300,000 after purchasing an additional 252 shares during the last quarter.

Kymera Therapeutics Price Performance

The firm’s 50-day moving average price is $115.08 and its 200 day moving average price is $96.61. The firm has a market cap of $10.97 billion, a P/E ratio of -36.48 and a beta of 1.98.

Kymera Therapeutics (NASDAQ:KYMR – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.06). Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The firm had revenue of $1.35 million during the quarter, compared to the consensus estimate of $3.28 million. During the same period in the prior year, the firm earned ($0.94) earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Analysts forecast that Kymera Therapeutics, Inc. will post -3.90 earnings per share for the current year.

About Kymera Therapeutics

(Get Free Report)

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.

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