Kymera Therapeutics (NASDAQ:KYMR) Sees Unusually-High Trading Volume on Analyst Upgrade

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) shares saw unusually-strong trading volume on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $57.00 to $64.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Approximately 961,245 shares changed hands during mid-day trading, an increase of 62% from the previous session's volume of 594,076 shares.The stock last traded at $47.46 and had previously closed at $43.13.

A number of other research analysts also recently issued reports on the stock. B. Riley upgraded shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the company from $38.00 to $60.00 in a research report on Tuesday. UBS Group dropped their target price on shares of Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Stifel Nicolaus started coverage on shares of Kymera Therapeutics in a research report on Tuesday, May 20th. They set a "buy" rating and a $55.00 target price on the stock. Wall Street Zen upgraded shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Citigroup assumed coverage on shares of Kymera Therapeutics in a research note on Thursday, March 13th. They issued a "buy" rating and a $52.00 target price for the company. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Kymera Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $59.35.

Insider Buying and Selling at Kymera Therapeutics

In related news, Director Jeffrey W. Albers sold 6,349 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $311,101.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nello Mainolfi sold 30,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total value of $1,470,000.00. Following the completion of the sale, the chief executive officer now owns 660,482 shares of the company's stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,349 shares of company stock worth $2,334,301. Company insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in KYMR. Blue Trust Inc. increased its stake in shares of Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company's stock valued at $25,000 after buying an additional 270 shares during the period. State of Wyoming purchased a new stake in shares of Kymera Therapeutics during the fourth quarter worth about $45,000. GF Fund Management CO. LTD. acquired a new stake in shares of Kymera Therapeutics during the fourth quarter worth about $55,000. KBC Group NV lifted its holdings in shares of Kymera Therapeutics by 15.2% during the first quarter. KBC Group NV now owns 2,479 shares of the company's stock worth $68,000 after purchasing an additional 328 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Kymera Therapeutics during the first quarter worth about $68,000.

Kymera Therapeutics Price Performance

The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -18.91 and a beta of 2.07. The stock has a fifty day moving average of $29.11 and a 200 day moving average of $35.65.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.10. The business had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company's quarterly revenue was up 114.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.69) EPS. As a group, equities analysts expect that Kymera Therapeutics, Inc. will post -2.79 earnings per share 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.