Kymera Therapeutics (NASDAQ:KYMR) Sees Large Volume Increase on Analyst Upgrade

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares saw strong trading volume on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $57.00 to $64.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 961,245 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 594,076 shares.The stock last traded at $47.46 and had previously closed at $43.13.

A number of other equities analysts have also recently issued reports on KYMR. B. Riley upgraded shares of Kymera Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $60.00 in a research report on Tuesday. Stifel Nicolaus began coverage on shares of Kymera Therapeutics in a research report on Tuesday, May 20th. They set a “buy” rating and a $55.00 target price for the company. HC Wainwright lifted their target price on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Citigroup began coverage on shares of Kymera Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $52.00 target price for the company. Finally, Morgan Stanley upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $49.00 to $79.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Kymera Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $59.35.

Insider Buying and Selling

In related news, CEO Nello Mainolfi sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the completion of the transaction, the chief executive officer now owns 660,482 shares of the company’s stock, valued at approximately $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elena Ridloff sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total transaction of $553,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,349 shares of company stock valued at $2,334,301. Insiders own 16.01% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. KBC Group NV increased its position in Kymera Therapeutics by 15.2% during the first quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after purchasing an additional 328 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Kymera Therapeutics by 9.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company’s stock worth $198,000 after purchasing an additional 406 shares during the last quarter. Comerica Bank increased its position in Kymera Therapeutics by 3.6% during the first quarter. Comerica Bank now owns 21,374 shares of the company’s stock worth $585,000 after purchasing an additional 743 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in Kymera Therapeutics by 6.1% during the first quarter. Hsbc Holdings PLC now owns 18,547 shares of the company’s stock worth $508,000 after buying an additional 1,064 shares during the period.

Kymera Therapeutics Stock Up 1.0%

The firm’s 50 day simple moving average is $29.11 and its 200-day simple moving average is $35.65. The company has a market capitalization of $2.84 billion, a PE ratio of -18.62 and a beta of 2.18.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.82) earnings per share (EPS) 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 period in the previous year, the firm earned ($0.69) earnings per share. Kymera Therapeutics’s revenue for the quarter was up 114.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

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.