Kymera Therapeutics (NASDAQ:KYMR) Hits New 52-Week High on Analyst Upgrade

Key Points

• Kymera Therapeutics hit a new 52-week high after Barclays raised its price target from $139 to $170 and maintained an overweight rating. Shares traded as high as $133.88, while analysts’ consensus rating remained “Moderate Buy” with a $139.16 target.
• Institutional interest increased, with BlackRock, Merck, Bank of America, Bank of New York Mellon and Eagle Health Investments among investors establishing new positions during the second quarter.
• The company’s latest quarterly results fell short of expectations, reporting a loss of $1.32 per share versus the $1.26 consensus estimate and revenue of $1.35 million versus $3.28 million expected. Insiders also reported share sales, including a $3.41 million sale by CEO Nello Mainolfi.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday after Barclays raised their price target on the stock from $139.00 to $170.00. Barclays currently has an overweight rating on the stock. Kymera Therapeutics traded as high as $133.88 and last traded at $132.5350, with a volume of 90,061 shares trading hands. The stock had previously closed at $127.51.

A number of other research analysts also recently commented on KYMR. Loop Capital set a $132.00 price objective on shares of Kymera Therapeutics in a research note on Thursday. Brookline Capital Markets reissued a "buy" rating on shares of Kymera Therapeutics in a research report on Thursday. Raymond James Financial restated an "outperform" rating on shares of Kymera Therapeutics in a report on Thursday. Mizuho boosted their target price on shares of Kymera Therapeutics from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $140.00 price target on shares of Kymera Therapeutics in a research report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.16.

Insider Activity

In other news, insider Brian Adams sold 6,371 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $116.83, for a total value of $744,323.93. Following the transaction, the insider directly owned 50,254 shares in the company, valued at $5,871,174.82. This trade represents a 11.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of Kymera Therapeutics stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $113.80, for a total value of $3,414,000.00. Following the completion of the transaction, the chief executive officer directly owned 666,568 shares in the company, valued at $75,855,438.40. This represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Kymera Therapeutics in the second quarter worth about $635,067,000. Merck & Co. Inc. acquired a new stake in shares of Kymera Therapeutics in the second quarter valued at about $88,544,161. Bank of America Corp DE purchased a new stake in shares of Kymera Therapeutics during the 2nd quarter valued at about $43,378,000. Bank of New York Mellon Corp purchased a new stake in shares of Kymera Therapeutics during the 2nd quarter valued at about $24,721,000. Finally, Eagle Health Investments LP purchased a new stake in shares of Kymera Therapeutics during the 2nd quarter valued at about $19,052,000.

Kymera Therapeutics Trading Up 3.5%

The firm has a 50-day moving average of $115.08 and a 200 day moving average of $96.61. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of -36.48 and a beta of 1.98.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported ($1.32) earnings per share for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.06). Kymera Therapeutics had a negative return on equity of 21.22% and a negative net margin of 285.33%. The company had revenue of $1.35 million during the quarter, compared to analysts' expectations of $3.28 million. During the same quarter in the prior year, the company earned ($0.94) EPS. The firm's revenue was up .0% compared to the same quarter last year. As a group, research analysts forecast that Kymera Therapeutics, Inc. will post -3.90 EPS for the current year.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins through targeted protein degradation. Its approach is designed to use the cell's natural protein-disposal system to remove proteins that may be difficult to address with conventional drug modalities.

The company's research and development programs have targeted a range of disease areas, including immune-mediated and inflammatory conditions, cancer, and other serious illnesses.

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