Kymera Therapeutics (NASDAQ:KYMR) Sets New 1-Year High - Time to Buy?

Key Points

• Kymera Therapeutics hit a new 52-week high, trading as high as $105.00 after closing previously at $90.43, reflecting strong recent momentum in the stock.
• The company’s latest quarterly results beat expectations, with EPS of ($0.71) versus an estimated ($0.89) and revenue of $34.37 million versus $8.27 million expected.
• Investor sentiment may be weighed by heavy insider selling, including Director Bruce Booth’s $24.3 million sale, though it was executed under a pre-arranged Rule 10b5-1 plan.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $105.00 and last traded at $99.45, with a volume of 2891041 shares changing hands. The stock had previously closed at $90.43.

Kymera Therapeutics News Roundup

Here are the key news stories impacting Kymera Therapeutics this week:

• Positive Sentiment: Kymera previously reported quarterly results that beat expectations, with EPS of ($0.71) versus consensus of ($0.89) and revenue of $34.37 million versus estimates of $8.27 million, which supports the bullish long-term thesis.
• Neutral Sentiment: The insider sales were made under pre-arranged Rule 10b5-1 trading plans, which can reduce concern that the transactions reflect a sudden change in outlook.
• Negative Sentiment: Director Bruce Booth sold multiple large blocks of KYMR shares in recent days, including a $24.3 million sale and a $10.5 million sale, which can pressure investor sentiment because of the size and frequency of the transactions. Article Title

Wall Street Analysts Forecast Growth

KYMR has been the subject of a number of research reports. Wall Street Zen raised Kymera Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kymera Therapeutics in a report on Tuesday, April 21st. Jefferies Financial Group started coverage on Kymera Therapeutics in a report on Monday, March 16th. They set a "buy" rating and a $110.00 price objective on the stock. Stephens increased their target price on Kymera Therapeutics from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Monday, March 2nd. Finally, UBS Group raised their target price on shares of Kymera Therapeutics from $90.00 to $128.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $117.14.

Kymera Therapeutics Stock Performance

The company's fifty day moving average price is $83.41 and its 200-day moving average price is $81.31. The stock has a market cap of $8.18 billion, a P/E ratio of -27.86 and a beta of 2.02.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.18. The business had revenue of $34.37 million during the quarter, compared to the consensus estimate of $8.27 million. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The firm's quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.82) earnings per share. Analysts anticipate that Kymera Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kymera Therapeutics news, COO Jeremy G. Chadwick sold 24,727 shares of the company's stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $80.26, for a total value of $1,984,589.02. Following the transaction, the chief operating officer owned 61,202 shares of the company's stock, valued at $4,912,072.52. This represents a 28.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce Booth sold 246,330 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $98.52, for a total value of $24,268,431.60. Following the completion of the sale, the director owned 617,663 shares in the company, valued at approximately $60,852,158.76. The trade was a 28.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 655,603 shares of company stock worth $60,847,827 in the last 90 days. 15.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in Kymera Therapeutics by 382.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company's stock valued at $42,000 after purchasing an additional 424 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Kymera Therapeutics by 81.5% during the third quarter. Larson Financial Group LLC now owns 777 shares of the company's stock valued at $44,000 after buying an additional 349 shares during the period. Osaic Holdings Inc. increased its stake in shares of Kymera Therapeutics by 18,050.0% during the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock valued at $48,000 after buying an additional 1,083 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Kymera Therapeutics in the fourth quarter valued at about $63,000. Finally, Raymond James Financial Inc. purchased a new stake in Kymera Therapeutics in the second quarter worth about $73,000.

Kymera Therapeutics Company Profile

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.

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