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

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s stock price shot up 6.3% during mid-day trading on Thursday . The company traded as high as $47.50 and last traded at $47.04. 519,137 shares changed hands during trading, a decline of 14% from the average session volume of 605,315 shares. The stock had previously closed at $44.26.

Wall Street Analysts Forecast Growth

KYMR has been the topic of a number of recent research reports. Wall Street Zen raised Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. UBS Group lowered their target price on Kymera Therapeutics from $72.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. increased their target price on Kymera Therapeutics from $57.00 to $64.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Morgan Stanley raised Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $49.00 to $79.00 in a report on Tuesday, June 3rd. Finally, Guggenheim reissued a "buy" rating and issued a $60.00 target price on shares of Kymera Therapeutics in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kymera Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.82.

Kymera Therapeutics Price Performance

The business has a 50-day simple moving average of $30.25 and a 200 day simple moving average of $35.72. The firm has a market cap of $3.10 billion, a PE ratio of -20.35 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its earnings results 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. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The company had revenue of $22.10 million during the quarter, compared to the consensus estimate of $11.38 million. During the same quarter 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.

Insiders Place Their Bets

In related news, Director Jeffrey W. Albers sold 6,349 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $49.00, for a total transaction of $311,101.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elena Ridloff sold 12,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total value of $553,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,349 shares of company stock worth $2,334,301. Corporate insiders own 16.01% of the company's stock.

Institutional Trading of Kymera Therapeutics

Several institutional investors have recently made changes to their positions in KYMR. Wellington Management Group LLP grew its position in shares of Kymera Therapeutics by 13.0% during the first 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. Avoro Capital Advisors LLC grew its holdings in 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 buying an additional 650,000 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Kymera Therapeutics during the 4th quarter valued at approximately $23,856,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Kymera Therapeutics by 121.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock valued at $24,535,000 after buying an additional 491,737 shares in the last quarter. Finally, Boxer Capital Management LLC purchased a new position in Kymera Therapeutics during the 4th quarter valued at approximately $17,098,000.

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.