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

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares saw unusually-high 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. Approximately 961,245 shares traded 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.

Other equities analysts have also issued reports about the stock. UBS Group decreased their target price on shares of Kymera Therapeutics from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. HC Wainwright boosted their target price on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wall Street Zen upgraded shares of Kymera Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Citigroup initiated coverage on shares of Kymera Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Morgan Stanley upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $49.00 to $79.00 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.35.

Insider Activity

In other news, CEO Nello Mainolfi sold 30,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $1,470,000.00. Following the sale, the chief executive officer now directly owns 660,482 shares in the company, valued at approximately $32,363,618. This trade represents a 4.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey W. Albers sold 6,349 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $311,101.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,349 shares of company stock worth $2,334,301. 16.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Kymera Therapeutics by 13.0% in the 1st quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company’s stock valued at $164,134,000 after buying an additional 689,547 shares during the last quarter. Avoro Capital Advisors LLC raised its stake 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 worth $207,184,000 after acquiring an additional 650,000 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Kymera Therapeutics during the 4th quarter worth $23,856,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 worth $24,535,000 after acquiring an additional 491,737 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new stake in Kymera Therapeutics during the 4th quarter worth $17,098,000.

Kymera Therapeutics Trading Up 1.0%

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

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.82) 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 firm had revenue of $22.10 million for the quarter, compared to analyst estimates of $11.38 million. During the same period last year, the business earned ($0.69) EPS. Kymera Therapeutics’s revenue for the quarter was up 114.6% compared to the same quarter last year. 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.