Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Up – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR) gapped up before the market opened on Friday . The stock had previously closed at $110.38, but opened at $114.15. Kymera Therapeutics shares last traded at $109.1780, with a volume of 25,211 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on KYMR shares. Royal Bank Of Canada cut Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $106.00 to $115.00 in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kymera Therapeutics in a report on Friday, July 17th. Bank of America increased their price target on Kymera Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Truist Financial increased their price target on Kymera Therapeutics from $116.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, Brookline Capital Markets reaffirmed a “buy” rating on shares of Kymera Therapeutics in a report on Monday, June 8th. Twenty analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Kymera Therapeutics has an average rating of “Moderate Buy” and an average price target of $122.64.

Kymera Therapeutics Trading Up 0.2%

The firm has a market cap of $9.10 billion, a price-to-earnings ratio of -30.97 and a beta of 1.95. The stock’s 50 day moving average is $96.24 and its 200 day moving average is $86.55.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The firm had revenue of $34.37 million during the quarter, compared to the consensus estimate of $8.27 million. During the same period last year, the business posted ($0.82) earnings per share. The business’s revenue for the quarter was up 55.5% compared to the same quarter last year. On average, equities research analysts predict that Kymera Therapeutics, Inc. will post -3.28 EPS for the current year.

Insider Transactions at Kymera Therapeutics

In related news, Director Bvf Partners L. P/Il sold 1,578,800 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $106.50, for a total value of $168,142,200.00. Following the completion of the sale, the director directly owned 240,123 shares in the company, valued at $25,573,099.50. The trade was a 86.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce Booth sold 467,878 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $110.29, for a total value of $51,602,264.62. Following the completion of the transaction, the director directly owned 472,267 shares in the company, valued at approximately $52,086,327.43. This represents a 49.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,637,813 shares of company stock worth $390,253,404 in the last ninety days. 15.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of KYMR. Handelsbanken Fonder AB boosted its position in shares of Kymera Therapeutics by 15.0% in the second quarter. Handelsbanken Fonder AB now owns 20,700 shares of the company’s stock valued at $2,374,000 after acquiring an additional 2,700 shares during the period. GAMMA Investing LLC increased its position in Kymera Therapeutics by 27.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $52,000 after acquiring an additional 98 shares during the period. Empowered Funds LLC bought a new position in Kymera Therapeutics during the first quarter worth about $203,000. Glenmede Trust Co. NA increased its position in Kymera Therapeutics by 3.6% during the first quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock worth $565,000 after acquiring an additional 235 shares during the period. Finally, Amundi acquired a new stake in Kymera Therapeutics in the 1st quarter worth about $249,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.