Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Up - Time to Buy?

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $29.64, but opened at $40.00. Kymera Therapeutics shares last traded at $37.57, with a volume of 940,660 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America upgraded shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 price target for the company in a report on Monday. B. Riley upgraded shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and upped their price target for the company from $38.00 to $60.00 in a report on Tuesday. Morgan Stanley upgraded shares of Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $49.00 to $79.00 in a report on Tuesday. Guggenheim restated a "buy" rating and set a $52.00 price target on shares of Kymera Therapeutics in a report on Monday, May 12th. Finally, Stifel Nicolaus assumed coverage on shares of Kymera Therapeutics in a report on Tuesday, May 20th. They set a "buy" rating and a $55.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.35.

Kymera Therapeutics Stock Up 1.6%

The company has a market cap of $2.88 billion, a price-to-earnings ratio of -18.91 and a beta of 2.07. The company's fifty day moving average price is $29.40 and its two-hundred day moving average price is $35.71.

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 company had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The company's revenue was up 114.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.69) earnings per share. Research analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In other news, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the sale, the chief executive officer now directly owns 660,482 shares of the company's stock, valued at $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey W. Albers sold 6,349 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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. Over the last 90 days, insiders sold 48,349 shares of company stock valued at $2,334,301. Corporate insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew 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 purchasing an additional 270 shares during the last quarter. State of Wyoming bought a new position in Kymera Therapeutics in the fourth quarter valued at approximately $45,000. GF Fund Management CO. LTD. bought a new position in Kymera Therapeutics in the fourth quarter valued at approximately $55,000. KBC Group NV boosted its stake in Kymera Therapeutics by 53.8% in the fourth quarter. KBC Group NV now owns 2,151 shares of the company's stock valued at $87,000 after acquiring an additional 752 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Kymera Therapeutics in the first quarter valued at approximately $68,000.

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.