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

Key Points

• Kymera Therapeutics shares reached a new 52-week high after Truist Financial raised their price target from $53.00 to $68.00, maintaining a buy rating on the stock.
• Despite positive analyst upgrades, the company recently reported a loss of ($0.95) EPS for the quarter, missing expectations and highlighting a significant decline in revenue from the previous year.
• Insider selling was noted, with CFO Bruce Jacobs and CEO Nello Mainolfi selling large quantities of stock, reflecting a decrease in their ownership positions.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $53.00 to $68.00. Truist Financial currently has a buy rating on the stock. Kymera Therapeutics traded as high as $58.93 and last traded at $56.60, with a volume of 1002412 shares changing hands. The stock had previously closed at $58.50.

KYMR has been the topic of several other reports. Jefferies Financial Group set a $64.00 price objective on Kymera Therapeutics and gave the company a "buy" rating in a research note on Wednesday, June 25th. BTIG Research restated a "buy" rating and issued a $59.00 price target on shares of Kymera Therapeutics in a research note on Thursday, June 26th. Wall Street Zen downgraded shares of Kymera Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. HC Wainwright boosted their target price on shares of Kymera Therapeutics from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Finally, Wells Fargo & Company dropped their price target on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $60.74.

Insiders Place Their Bets

In related news, CFO Bruce N. Jacobs sold 79,220 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $50.00, for a total value of $3,961,000.00. Following the transaction, the chief financial officer owned 227,409 shares in the company, valued at approximately $11,370,450. This represents a 25.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the transaction, the chief executive officer owned 660,482 shares of the company's stock, valued at $32,363,618. The trade was a 4.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Siren L.L.C. lifted its stake in Kymera Therapeutics by 9.1% in the 1st quarter. Siren L.L.C. now owns 3,240,313 shares of the company's stock worth $88,687,000 after purchasing an additional 270,580 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Kymera Therapeutics by 9.0% in the first quarter. Rhumbline Advisers now owns 69,928 shares of the company's stock worth $1,914,000 after purchasing an additional 5,771 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Kymera Therapeutics in the fourth quarter worth $344,000. GAMMA Investing LLC boosted its stake in Kymera Therapeutics by 3,851.5% during the first quarter. GAMMA Investing LLC now owns 6,678 shares of the company's stock valued at $183,000 after buying an additional 6,509 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Kymera Therapeutics by 6.1% during the first quarter. Hsbc Holdings PLC now owns 18,547 shares of the company's stock valued at $508,000 after buying an additional 1,064 shares during the period.

Kymera Therapeutics Stock Down 3.2%

The firm has a market capitalization of $4.05 billion, a PE ratio of -16.31 and a beta of 2.17. The company has a 50-day moving average of $45.06 and a 200 day moving average of $38.93.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Kymera Therapeutics had a negative return on equity of 31.60% and a negative net margin of 616.03%.The business had revenue of $11.48 million for the quarter, compared to analysts' expectations of $17.37 million. During the same period in the previous year, the firm posted ($0.58) EPS. The firm's revenue for the quarter was down 55.1% compared to the same quarter last year. As a group, equities analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

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.

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