Kymera Therapeutics (NASDAQ:KYMR) Shares Up 6.2% - Here's Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s share price shot up 6.2% on Monday . The company traded as high as $27.03 and last traded at $27.59. 42,876 shares were traded during trading, a decline of 92% from the average session volume of 547,786 shares. The stock had previously closed at $25.97.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KYMR. Leerink Partners reissued an "outperform" rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Friday, December 27th. HC Wainwright upped their target price on Kymera Therapeutics from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Citigroup assumed coverage on shares of Kymera Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $52.00 target price on the stock. Finally, Stephens reiterated an "overweight" rating and set a $60.00 price target on shares of Kymera Therapeutics in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kymera Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $56.36.

Kymera Therapeutics Stock Down 0.9 %

The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -14.21 and a beta of 2.22. The company has a 50 day simple moving average of $29.89 and a 200-day simple moving average of $38.61.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.12). The business had revenue of $7.39 million for the quarter, compared to the consensus estimate of $14.81 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. As a group, sell-side analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Jeremy G. Chadwick sold 1,383 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $42,112.35. Following the completion of the transaction, the chief operating officer now owns 67,800 shares of the company's stock, valued at approximately $2,064,510. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellen Chiniara sold 2,241 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $68,238.45. Following the completion of the sale, the insider now directly owns 80,085 shares in the company, valued at approximately $2,438,588.25. The trade was a 2.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,659 shares of company stock worth $324,567 over the last quarter. Insiders own 15.82% of the company's stock.

Institutional Trading of Kymera Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Kymera Therapeutics by 212.6% during the third quarter. JPMorgan Chase & Co. now owns 140,491 shares of the company's stock valued at $6,649,000 after purchasing an additional 95,547 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Kymera Therapeutics by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,187 shares of the company's stock worth $15,577,000 after acquiring an additional 20,346 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Kymera Therapeutics by 174.2% in the 4th quarter. Victory Capital Management Inc. now owns 19,899 shares of the company's stock worth $801,000 after buying an additional 12,643 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Kymera Therapeutics by 35.8% during the fourth quarter. Teacher Retirement System of Texas now owns 11,490 shares of the company's stock valued at $462,000 after acquiring an additional 3,026 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in Kymera Therapeutics by 14.1% in the fourth quarter. Schroder Investment Management Group now owns 163,896 shares of the company's stock worth $6,444,000 after buying an additional 20,204 shares during 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.