Kymera Therapeutics (NASDAQ:KYMR) Reaches New 12-Month High - Time to Buy?

Key Points

• Kymera Therapeutics (NASDAQ:KYMR) shares achieved a new 12-month high at $53.44, showing strong trading activity with 561,455 shares exchanged.
• Brokerages are divided on price targets: Wells Fargo lowered its target to $53, while Barclays set it at $60 and BTIG Research maintained a buy rating with a $59 target.
• Kymera reported disappointing quarterly earnings with a loss of $0.95 per share and a significant year-over-year revenue drop of 55.1%, leading to a consensus EPS outlook of -2.79 for the fiscal year.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $53.44 and last traded at $53.18, with a volume of 561455 shares trading hands. The stock had previously closed at $52.50.

Analysts Set New Price Targets

Several brokerages recently commented on KYMR. Wells Fargo & Company cut their target price on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Barclays began coverage on Kymera Therapeutics in a research report on Wednesday, September 17th. They set an "overweight" rating and a $60.00 target price on the stock. BTIG Research reaffirmed a "buy" rating and issued a $59.00 price target on shares of Kymera Therapeutics in a research note on Thursday, June 26th. Bank of America raised shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price target for the company in a research note on Monday, June 2nd. Finally, B. Riley upgraded Kymera Therapeutics to a "strong-buy" rating and set a $60.00 price target on the stock in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $59.95.

Kymera Therapeutics Price Performance

The stock has a market capitalization of $3.81 billion, a PE ratio of -15.36 and a beta of 2.17. The business's fifty day moving average price is $44.23 and its two-hundred day moving average price is $38.27.

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

Insider Activity

In other news, CFO Bruce N. Jacobs sold 79,220 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $50.00, for a total transaction of $3,961,000.00. Following the completion of the sale, the chief financial officer owned 227,409 shares of the company's stock, valued at $11,370,450. The trade was 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 available at this link. Also, Director Bros. Advisors Lp Baker bought 655,500 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $44.00 per share, with a total value of $28,842,000.00. Following the purchase, the director directly owned 6,117,295 shares of the company's stock, valued at approximately $269,160,980. This represents a 12.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of KYMR. Commodore Capital LP purchased a new stake in Kymera Therapeutics during the 2nd quarter valued at about $32,730,000. Wellington Management Group LLP grew its stake in Kymera Therapeutics by 13.0% during the 1st quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock valued at $164,134,000 after acquiring an additional 689,547 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Kymera Therapeutics by 121.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock valued at $24,535,000 after acquiring an additional 491,737 shares in the last quarter. Millennium Management LLC grew its stake in Kymera Therapeutics by 340.4% during the 1st quarter. Millennium Management LLC now owns 510,480 shares of the company's stock valued at $13,972,000 after acquiring an additional 394,562 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in Kymera Therapeutics by 272.7% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 491,810 shares of the company's stock valued at $21,463,000 after acquiring an additional 359,847 shares in 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.

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