Kymera Therapeutics (NASDAQ:KYMR) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Trading volume surged 185% to 2.09 million shares, while Kymera’s stock slipped 0.4% to $107.30.
• Analysts remain broadly positive, with a “Moderate Buy” consensus from 23 analysts and an average price target of $125.65; recent targets range from $97 to $135.
• Kymera beat quarterly expectations, reporting a narrower-than-expected loss of $0.62 per share and $65 million in revenue, up 465.2% year over year. However, insiders sold about 3.6 million shares worth $387.6 million over the past three months.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) saw unusually-strong trading volume on Tuesday . 2,086,578 shares traded hands during trading, an increase of 185% from the previous session's volume of 731,507 shares.The stock last traded at $107.30 and had previously closed at $108.58.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KYMR. Morgan Stanley reissued an "overweight" rating and issued a $135.00 target price on shares of Kymera Therapeutics in a research note on Thursday. Oppenheimer reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Kymera Therapeutics in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Kymera Therapeutics in a research note on Thursday, July 30th. They issued a "hold" rating and a $120.00 price target on the stock. Loop Capital set a $97.00 price objective on shares of Kymera Therapeutics in a research report on Monday, June 8th. Finally, Bank of America raised their price objective on shares of Kymera Therapeutics from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Twenty research analysts have rated the stock with 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, Kymera Therapeutics has an average rating of "Moderate Buy" and an average target price of $125.65.

Kymera Therapeutics Trading Down 0.4%

The firm has a market capitalization of $8.99 billion, a PE ratio of -33.33 and a beta of 1.95. The firm has a 50 day simple moving average of $101.92 and a 200 day simple moving average of $89.21.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.09. The firm had revenue of $65.00 million during the quarter, compared to analysts' expectations of $32.78 million. Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%.The company's revenue was up 465.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.95) earnings per share. Research analysts forecast that Kymera Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Insider Buying and Selling

In other Kymera Therapeutics news, CEO Nello Mainolfi sold 50,000 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $119.00, for a total value of $5,950,000.00. Following the completion of the transaction, the chief executive officer owned 666,568 shares of the company's stock, valued at approximately $79,321,592. The trade was a 6.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the transaction, the director owned 240,123 shares in the company, valued at $25,573,099.50. This represents a 86.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,604,813 shares of company stock worth $387,557,004 in the last three months. 15.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KYMR. Vanguard Group Inc. raised its holdings in Kymera Therapeutics by 15.6% in the 4th quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company's stock worth $487,685,000 after purchasing an additional 845,922 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Kymera Therapeutics during the 4th quarter valued at approximately $2,610,000. Maven Securities LTD purchased a new position in Kymera Therapeutics during the fourth quarter valued at $1,167,000. Eagle Health Investments LP bought a new stake in shares of Kymera Therapeutics in the fourth quarter worth about $10,606,000. Finally, Monashee Investment Management LLC bought a new stake in Kymera Therapeutics in the 4th quarter worth approximately $7,781,000.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body's natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company's proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company's pipeline emphasizes immunology and oncology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source