Kymera Therapeutics (NASDAQ:KYMR) Stock Price Up 6.3% - Time to Buy?

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) rose 6.3% on Thursday . The stock traded as high as $47.50 and last traded at $47.04. Approximately 519,137 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 605,315 shares. The stock had previously closed at $44.26.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KYMR shares. Stifel Nicolaus started coverage on Kymera Therapeutics in a research report on Tuesday, May 20th. They set a "buy" rating and a $55.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the company an "overweight" rating in a research note on Tuesday. UBS Group cut their target price on shares of Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. B. Riley raised shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $38.00 to $60.00 in a research note on Tuesday. Finally, Citigroup began coverage on shares of Kymera Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $52.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.82.

Kymera Therapeutics Stock Down 0.1%

The firm has a 50 day moving average price of $30.25 and a 200 day moving average price of $35.78. The stock has a market capitalization of $3.10 billion, a PE ratio of -20.35 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating analysts' consensus estimates of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The business had revenue of $22.10 million during the quarter, compared to analyst estimates of $11.38 million. During the same period in the prior year, the firm posted ($0.69) EPS. Kymera Therapeutics's quarterly revenue was up 114.6% compared to the same quarter last year. On average, equities analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Transactions at Kymera Therapeutics

In related news, Director Elena Ridloff sold 12,000 shares of Kymera Therapeutics stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total transaction of $553,200.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey W. Albers sold 6,349 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $311,101.00. The disclosure for this sale can be found here. Insiders sold a total of 48,349 shares of company stock worth $2,334,301 in the last quarter. 16.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several large investors have recently made changes to their positions in KYMR. Price T Rowe Associates Inc. MD grew its position in Kymera Therapeutics by 3.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,870,333 shares of the company's stock valued at $276,395,000 after buying an additional 224,859 shares during the period. Wellington Management Group LLP boosted its stake in Kymera Therapeutics by 13.0% in the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock valued at $164,134,000 after acquiring an additional 689,547 shares during the last quarter. Vanguard Group Inc. boosted its stake in Kymera Therapeutics by 7.0% in the first quarter. Vanguard Group Inc. now owns 5,231,392 shares of the company's stock valued at $143,183,000 after acquiring an additional 344,080 shares during the last quarter. Avoro Capital Advisors LLC grew its position in shares of Kymera Therapeutics by 14.4% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company's stock valued at $207,184,000 after acquiring an additional 650,000 shares during the period. Finally, Siren L.L.C. increased its stake in shares of Kymera Therapeutics by 9.1% during the 1st quarter. Siren L.L.C. now owns 3,240,313 shares of the company's stock worth $88,687,000 after purchasing an additional 270,580 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.