Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Up - What's Next?

Key Points

• Kymera Therapeutics shares gapped up before trading, opening at $114.15 after closing at $110.38, though the stock later traded around $109.18.
• Wall Street sentiment remains broadly positive: 20 analysts rate KYMR a Buy, with an average price target of $122.64, while several firms recently raised their targets to as high as $140.
• The company’s latest earnings beat expectations, with Q1 revenue of $34.37 million versus $8.27 million expected, but Kymera still posted a loss and insiders have been active sellers in recent months.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $110.38, but opened at $114.15. Kymera Therapeutics shares last traded at $109.1780, with a volume of 25,211 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KYMR shares. Brookline Capital Markets reissued a "buy" rating on shares of Kymera Therapeutics in a report on Monday, June 8th. BTIG Research reiterated a "buy" rating and issued a $134.00 price objective on shares of Kymera Therapeutics in a research report on Thursday, June 25th. Canaccord Genuity Group lifted their price objective on Kymera Therapeutics from $106.00 to $129.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Mizuho boosted their price objective on Kymera Therapeutics from $120.00 to $140.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada cut Kymera Therapeutics from an "outperform" rating to a "sector perform" rating and increased their target price for the stock from $106.00 to $115.00 in a report on Monday, July 13th. Twenty analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Kymera Therapeutics has an average rating of "Moderate Buy" and an average price target of $122.64.

Kymera Therapeutics Price Performance

The company's 50 day moving average price is $95.67 and its 200 day moving average price is $86.38. The firm has a market capitalization of $9.07 billion, a P/E ratio of -30.81 and a beta of 1.95.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The firm had revenue of $34.37 million during the quarter, compared to analysts' expectations of $8.27 million. During the same quarter in the previous year, the company posted ($0.82) EPS. Kymera Therapeutics's revenue was up 55.5% on a year-over-year basis. On average, research analysts anticipate that Kymera Therapeutics, Inc. will post -3.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bruce Booth sold 31,283 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $109.48, for a total transaction of $3,424,862.84. Following the completion of the sale, the director owned 461,794 shares in the company, valued at $50,557,207.12. The trade was a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Bruce N. Jacobs sold 77,109 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $114.96, for a total value of $8,864,450.64. Following the transaction, the chief financial officer directly owned 244,883 shares in the company, valued at $28,151,749.68. This trade represents a 23.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,637,813 shares of company stock worth $390,253,404. 15.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several institutional investors have recently modified their holdings of KYMR. Handelsbanken Fonder AB lifted its holdings in Kymera Therapeutics by 15.0% in the second quarter. Handelsbanken Fonder AB now owns 20,700 shares of the company's stock valued at $2,374,000 after buying an additional 2,700 shares during the period. GAMMA Investing LLC boosted its stake in Kymera Therapeutics by 27.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $52,000 after acquiring an additional 98 shares during the last quarter. Empowered Funds LLC acquired a new stake in Kymera Therapeutics during the 1st quarter worth $203,000. Glenmede Trust Co. NA grew its holdings in Kymera Therapeutics by 3.6% during the 1st quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company's stock worth $565,000 after acquiring an additional 235 shares during the period. Finally, Amundi bought a new stake in shares of Kymera Therapeutics during the 1st quarter valued at $249,000.

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.

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