Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Up to $22.75

Kymera Therapeutics, Inc. (NASDAQ:KYMRGet Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $22.75, but opened at $26.37. Kymera Therapeutics shares last traded at $25.64, with a volume of 5,161 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. SVB Leerink assumed coverage on shares of Kymera Therapeutics in a report on Wednesday, July 20th. They set a “market perform” rating and a $26.00 target price for the company. B. Riley reduced their target price on shares of Kymera Therapeutics from $67.00 to $50.00 in a report on Wednesday, May 4th. Credit Suisse Group assumed coverage on shares of Kymera Therapeutics in a report on Thursday, April 28th. They set an “outperform” rating and a $63.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Kymera Therapeutics in a report on Wednesday. They set a “buy” rating and a $40.00 target price for the company. Finally, Piper Sandler cut their price target on shares of Kymera Therapeutics from $91.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, May 23rd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.38.

Kymera Therapeutics Price Performance

The company has a market capitalization of $1.45 billion, a P/E ratio of -11.34 and a beta of 1.26. The company’s 50-day moving average price is $19.85 and its two-hundred day moving average price is $29.55.

Kymera Therapeutics (NASDAQ:KYMRGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.04). The company had revenue of $9.62 million during the quarter, compared to the consensus estimate of $18.66 million. Kymera Therapeutics had a negative net margin of 194.23% and a negative return on equity of 30.40%. Kymera Therapeutics’s revenue for the quarter was down 48.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.29) earnings per share. On average, analysts anticipate that Kymera Therapeutics, Inc. will post -2.65 earnings per share for the current fiscal year.

Insider Activity

In other Kymera Therapeutics news, Director Bvf Partners L. P/Il purchased 224,057 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were acquired at an average cost of $14.21 per share, with a total value of $3,183,849.97. Following the completion of the transaction, the director now owns 2,159,903 shares in the company, valued at $30,692,221.63. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kymera Therapeutics news, Director Bvf Partners L. P/Il purchased 224,057 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were acquired at an average cost of $14.21 per share, with a total value of $3,183,849.97. Following the completion of the transaction, the director now owns 2,159,903 shares in the company, valued at $30,692,221.63. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bvf Partners L. P/Il purchased 10,100 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $141,400.00. Following the completion of the transaction, the director now owns 2,036,860 shares of the company’s stock, valued at approximately $28,516,040. The disclosure for this purchase can be found here. Insiders own 23.28% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in Kymera Therapeutics by 338.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,137 shares of the company’s stock valued at $42,000 after buying an additional 1,650 shares during the period. Candriam S.C.A. increased its holdings in Kymera Therapeutics by 13.3% in the 2nd quarter. Candriam S.C.A. now owns 469,860 shares of the company’s stock valued at $9,251,000 after buying an additional 55,147 shares during the period. SG Americas Securities LLC increased its holdings in Kymera Therapeutics by 430.2% in the 2nd quarter. SG Americas Securities LLC now owns 37,345 shares of the company’s stock valued at $735,000 after buying an additional 30,301 shares during the period. Russell Investments Group Ltd. bought a new position in Kymera Therapeutics in the 2nd quarter valued at about $398,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Kymera Therapeutics in the 2nd quarter valued at about $217,000. 77.73% of the stock is owned by institutional investors.

About Kymera Therapeutics

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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 I clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis, macrophage activation syndrome, general pustular psoriasis, and rheumatoid arthritis; IRAKIMiD program to treat MYD88-mutated diffuse large B cell lymphoma; 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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