Kymera Therapeutics (NASDAQ:KYMR) Sets New 1-Year High – Still a Buy?

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $105.00 and last traded at $99.45, with a volume of 2891041 shares. The stock had previously closed at $90.43.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup raised their target price on Kymera Therapeutics from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Tuesday, April 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $108.00 price target on shares of Kymera Therapeutics in a research report on Thursday, February 26th. UBS Group lifted their price objective on shares of Kymera Therapeutics from $90.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $119.00 target price on shares of Kymera Therapeutics in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.14.

Kymera Therapeutics Stock Up 1.6%

The stock has a market capitalization of $8.22 billion, a PE ratio of -27.97 and a beta of 2.02. The stock has a fifty day moving average of $83.90 and a 200-day moving average of $81.77.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.18. The company had revenue of $34.37 million for the quarter, compared to the consensus estimate of $8.27 million. Kymera Therapeutics had a negative return on equity of 24.71% and a negative net margin of 611.94%.Kymera Therapeutics’s revenue was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.82) EPS. Equities research analysts expect that Kymera Therapeutics, Inc. will post -3.25 EPS for the current year.

Insider Buying and Selling

In related news, Director Bruce Booth sold 246,330 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $98.52, for a total transaction of $24,268,431.60. Following the sale, the director directly owned 617,663 shares in the company, valued at approximately $60,852,158.76. This represents a 28.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nello Mainolfi sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $81.18, for a total transaction of $2,435,400.00. Following the sale, the chief executive officer owned 666,195 shares in the company, valued at $54,081,710.10. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 630,876 shares of company stock valued at $58,863,238. Corporate insiders own 15.98% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of Kymera Therapeutics by 382.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock worth $42,000 after acquiring an additional 424 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Kymera Therapeutics by 81.5% during the third quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock worth $44,000 after acquiring an additional 349 shares during the last quarter. Osaic Holdings Inc. grew its position in Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock worth $48,000 after purchasing an additional 1,083 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Kymera Therapeutics during the fourth quarter worth about $63,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Kymera Therapeutics in the 2nd quarter valued at approximately $73,000.

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.