Kymera Therapeutics (NASDAQ:KYMR) Reaches New 52-Week High - Should You Buy?

Key Points

• Kymera Therapeutics reached a new 52-week high of $59.03, with a trading volume of 240,411 shares, indicating strong investor interest.
• Several major financial institutions, including Morgan Stanley and Royal Bank of Canada, have initiated coverage with price objectives of up to $70.00, reflecting a consensus "Moderate Buy" rating.
• The company reported a quarterly earnings miss, posting a loss of ($0.95) per share and revenue of $11.48 million, significantly below analyst expectations.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.03 and last traded at $59.23, with a volume of 240411 shares traded. The stock had previously closed at $57.21.

Wall Street Analyst Weigh In

KYMR has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Kymera Therapeutics in a report on Thursday, July 3rd. They issued an "overweight" rating and a $70.00 price objective for the company. Royal Bank Of Canada initiated coverage on Kymera Therapeutics in a report on Tuesday, September 16th. They issued an "outperform" rating and a $70.00 price objective for the company. Barclays initiated coverage on Kymera Therapeutics in a report on Wednesday, September 17th. They issued an "overweight" rating and a $60.00 price objective for the company. Wells Fargo & Company cut their price objective on Kymera Therapeutics from $57.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Finally, B. Riley upgraded Kymera Therapeutics to a "strong-buy" rating and set a $60.00 price objective for the company in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.26.

Kymera Therapeutics Stock Up 4.3%

The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -17.20 and a beta of 2.26. The firm has a 50-day moving average of $47.00 and a two-hundred day moving average of $40.31.

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

Insider Activity

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 30,000 shares of the company's stock in a transaction dated 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 directly owned 660,482 shares of the company's stock, valued at $32,363,618. This represents a 4.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bruce N. Jacobs sold 79,220 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 227,409 shares in the company, valued at approximately $11,370,450. The trade was a 25.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.01% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. KBC Group NV lifted its position in shares of Kymera Therapeutics by 15.2% during the 1st quarter. KBC Group NV now owns 2,479 shares of the company's stock worth $68,000 after buying an additional 328 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kymera Therapeutics by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,516 shares of the company's stock worth $110,000 after buying an additional 343 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Kymera Therapeutics by 642.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company's stock worth $27,000 after buying an additional 540 shares during the period. Comerica Bank lifted its position in shares of Kymera Therapeutics by 3.6% during the 1st quarter. Comerica Bank now owns 21,374 shares of the company's stock worth $585,000 after buying an additional 743 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Kymera Therapeutics by 506.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company's stock worth $40,000 after buying an additional 770 shares during the period.

Kymera Therapeutics Company Profile

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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