Kymera Therapeutics (NASDAQ:KYMR) Stock Price Up 5.7% - Here's Why

Key Points

• Kymera Therapeutics' stock price increased by 5.7%, reaching $43.03 after a previous close of $40.69, with 548,464 shares traded.
• Analysts have positive outlooks for Kymera, with a consensus rating of Buy and a target price averaging $58.76, while Morgan Stanley set a target price of $70.00.
• The company's recent earnings report revealed a loss of $0.95 per share, missing estimates, with a revenue decline of 55.1% compared to the same quarter last year.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s share price traded up 5.7% during mid-day trading on Wednesday . The stock traded as high as $42.88 and last traded at $43.03. 548,464 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 738,603 shares. The stock had previously closed at $40.69.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KYMR. Morgan Stanley started coverage on shares of Kymera Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $70.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $60.00 price objective (up from $54.00) on shares of Kymera Therapeutics in a report on Thursday, June 26th. Jefferies Financial Group set a $64.00 target price on Kymera Therapeutics and gave the stock a "buy" rating in a report on Wednesday, June 25th. Oppenheimer reissued an "outperform" rating and set a $53.00 price target (down previously from $56.00) on shares of Kymera Therapeutics in a research report on Friday, June 27th. Finally, UBS Group decreased their price objective on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Kymera Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $58.76.

Kymera Therapeutics Price Performance

The business has a 50-day moving average of $43.52 and a two-hundred day moving average of $36.87. The company has a market cap of $3.10 billion, a P/E ratio of -12.48 and a beta of 2.17.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The firm had revenue of $11.48 million for the quarter, compared to analysts' expectations of $17.37 million. During the same period in the previous year, the company posted ($0.58) earnings per share. The business's quarterly revenue was down 55.1% compared to the same quarter last year. Equities analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Bros. Advisors Lp Baker bought 655,500 shares of Kymera Therapeutics stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $44.00 per share, with a total value of $28,842,000.00. Following the transaction, the director directly owned 6,117,295 shares of the company's stock, valued at approximately $269,160,980. This represents a 12.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bvf Partners L. P/Il purchased 317,167 shares of the firm's stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $44.00 per share, with a total value of $13,955,348.00. Following the completion of the purchase, the director owned 2,798,795 shares of the company's stock, valued at $123,146,980. The trade was a 12.78% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.01% of the company's stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of KYMR. Wellington Management Group LLP boosted its stake in Kymera Therapeutics by 13.0% in the 1st quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock worth $164,134,000 after purchasing an additional 689,547 shares in the last quarter. BVF Inc. IL raised its holdings in shares of Kymera Therapeutics by 6.6% in the second quarter. BVF Inc. IL now owns 5,502,710 shares of the company's stock worth $240,138,000 after buying an additional 340,909 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Kymera Therapeutics by 7.0% during the first quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company's stock worth $143,183,000 after buying an additional 344,080 shares during the period. Siren L.L.C. grew its holdings in shares of Kymera Therapeutics by 9.1% during the first quarter. Siren L.L.C. now owns 3,240,313 shares of the company's stock valued at $88,687,000 after buying an additional 270,580 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its position in shares of Kymera Therapeutics by 4.6% in the 4th quarter. Driehaus Capital Management LLC now owns 1,390,372 shares of the company's stock valued at $55,935,000 after acquiring an additional 61,669 shares during the period.

Kymera Therapeutics Company Profile

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.

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