Kymera Therapeutics (NASDAQ:KYMR) Sees Large Volume Increase - Still a Buy?

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 844,520 shares changed hands during trading, an increase of 13% from the previous session's volume of 748,544 shares.The stock last traded at $44.50 and had previously closed at $45.71.

Analysts Set New Price Targets

Several research analysts have commented on KYMR shares. Morgan Stanley raised Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $49.00 to $79.00 in a research report on Tuesday, June 3rd. Jefferies Financial Group set a $64.00 price objective on Kymera Therapeutics and gave the company a "buy" rating in a report on Wednesday. Bank of America raised shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price target on the stock in a research note on Monday, June 2nd. UBS Group dropped their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.61.

Kymera Therapeutics Trading Down 1.1%

The company has a market cap of $2.84 billion, a P/E ratio of -14.08 and a beta of 2.07. The company's 50-day moving average price is $37.08 and its two-hundred day moving average price is $35.76.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.10. The business had revenue of $22.10 million during the quarter, compared to the consensus estimate of $11.38 million. Kymera Therapeutics had a negative net margin of 409.07% and a negative return on equity of 30.11%. The company's quarterly revenue was up 114.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.69) earnings per share. As a group, analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In other news, Director Elena Ridloff sold 12,000 shares of Kymera Therapeutics stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $46.10, for a total value of $553,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 6,349 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $311,101.00. The disclosure for this sale can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 over the last three months. Corporate insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of KYMR. Rhumbline Advisers lifted its stake in Kymera Therapeutics by 9.0% in the 1st quarter. Rhumbline Advisers now owns 69,928 shares of the company's stock worth $1,914,000 after acquiring an additional 5,771 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Kymera Therapeutics by 121.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock worth $24,535,000 after purchasing an additional 491,737 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Kymera Therapeutics by 340.4% during the first quarter. Millennium Management LLC now owns 510,480 shares of the company's stock worth $13,972,000 after purchasing an additional 394,562 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Kymera Therapeutics by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,793 shares of the company's stock valued at $849,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Eventide Asset Management LLC grew its position in Kymera Therapeutics by 15.2% during the first quarter. Eventide Asset Management LLC now owns 525,138 shares of the company's stock valued at $14,373,000 after purchasing an additional 69,410 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.