Kymera Therapeutics (NASDAQ:KYMR) Trading 6.4% Higher - Here's Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) shares were up 6.4% during trading on Tuesday . The stock traded as high as $39.83 and last traded at $39.60. Approximately 96,796 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 412,401 shares. The stock had previously closed at $37.22.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KYMR. UBS Group lowered their price objective on shares of Kymera Therapeutics from $80.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Stephens initiated coverage on shares of Kymera Therapeutics in a research report on Monday, November 18th. They set an "overweight" rating and a $65.00 price target for the company. Guggenheim raised their price objective on shares of Kymera Therapeutics from $45.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, November 1st. BTIG Research assumed coverage on shares of Kymera Therapeutics in a research note on Tuesday, December 10th. They issued a "buy" rating and a $60.00 target price on the stock. Finally, Wells Fargo & Company upgraded shares of Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $38.00 to $57.00 in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.38.

Kymera Therapeutics Trading Up 7.8 %

The stock's fifty day moving average is $43.57 and its two-hundred day moving average is $44.25. The firm has a market cap of $2.60 billion, a P/E ratio of -17.15 and a beta of 2.19.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.83) by $0.01. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm's revenue was down 20.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.90) earnings per share. On average, analysts forecast that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Activity at Kymera Therapeutics

In related news, insider Ellen Chiniara sold 3,129 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $41.75, for a total transaction of $130,635.75. Following the transaction, the insider now owns 54,826 shares in the company, valued at $2,288,985.50. The trade was a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its holdings in Kymera Therapeutics by 85.8% in the third quarter. Jennison Associates LLC now owns 797,681 shares of the company's stock worth $37,754,000 after buying an additional 368,394 shares during the last quarter. Wellington Management Group LLP raised its holdings in Kymera Therapeutics by 7.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company's stock worth $218,587,000 after acquiring an additional 308,954 shares during the last quarter. FMR LLC lifted its position in Kymera Therapeutics by 5.8% in the 3rd quarter. FMR LLC now owns 5,109,141 shares of the company's stock valued at $241,816,000 after acquiring an additional 282,301 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Kymera Therapeutics in the 2nd quarter valued at approximately $6,669,000. Finally, Renaissance Technologies LLC purchased a new stake in Kymera Therapeutics during the 2nd quarter valued at $4,271,000.

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.