Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Up – Still a Buy?

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares gapped up before the market opened on Thursday . The stock had previously closed at $99.87, but opened at $108.80. Kymera Therapeutics shares last traded at $119.5040, with a volume of 943,860 shares changing hands.

Analyst Upgrades and Downgrades

KYMR has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Kymera Therapeutics in a research note on Tuesday, April 21st. UBS Group lifted their price target on shares of Kymera Therapeutics from $90.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $119.00 price objective on shares of Kymera Therapeutics in a report on Thursday, April 30th. Canaccord Genuity Group assumed coverage on shares of Kymera Therapeutics in a research report on Wednesday, May 6th. They issued a “buy” rating and a $106.00 price objective for the company. Finally, Wall Street Zen upgraded Kymera Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.14.

Kymera Therapeutics Price Performance

The business’s 50-day moving average price is $83.90 and its two-hundred day moving average price is $81.77. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of -32.61 and a beta of 2.02.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $8.27 million. During the same period in the prior year, the company posted ($0.82) earnings per share. The firm’s quarterly revenue was up 55.5% on a year-over-year basis. Equities analysts predict that Kymera Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Elena Ridloff sold 3,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $87.00, for a total transaction of $261,000.00. Following the transaction, the director owned 3,000 shares of the company’s stock, valued at approximately $261,000. This trade represents a 50.00% 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, COO Jeremy G. Chadwick sold 4,279 shares of Kymera Therapeutics stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.58, for a total value of $349,080.82. Following the completion of the transaction, the chief operating officer owned 44,018 shares of the company’s stock, valued at $3,590,988.44. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 630,876 shares of company stock worth $58,863,238. 15.98% of the stock is currently owned by insiders.

Institutional Trading of Kymera Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in Kymera Therapeutics by 9.8% during the 3rd quarter. US Bancorp DE now owns 1,865 shares of the company’s stock worth $106,000 after buying an additional 166 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Kymera Therapeutics by 3.6% in the 1st quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock valued at $565,000 after acquiring an additional 235 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Kymera Therapeutics by 7.5% during the 1st quarter. Cetera Investment Advisers now owns 3,602 shares of the company’s stock valued at $300,000 after acquiring an additional 252 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Kymera Therapeutics by 36.9% during the 4th quarter. Larson Financial Group LLC now owns 1,064 shares of the company’s stock valued at $83,000 after acquiring an additional 287 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Kymera Therapeutics by 0.3% during the first quarter. Swiss National Bank now owns 94,500 shares of the company’s stock worth $7,871,000 after purchasing an additional 300 shares during the last quarter.

About Kymera Therapeutics

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.