Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) were up 5.6% during mid-day trading on Thursday . The stock traded as high as $56.92 and last traded at $56.69. Approximately 785 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 397,530 shares. The stock had previously closed at $53.69.
Several equities analysts have recently issued reports on KYMR shares. B. Riley started coverage on shares of Kymera Therapeutics in a report on Thursday, September 30th. They issued a “neutral” rating and a $67.00 price target for the company. They noted that the move was a valuation call. Morgan Stanley reduced their target price on shares of Kymera Therapeutics from $69.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 18th. Zacks Investment Research lowered shares of Kymera Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 11th. Bank of America lowered shares of Kymera Therapeutics from a “buy” rating to a “neutral” rating and upped their target price for the stock from $65.00 to $80.00 in a research note on Friday, September 10th. Finally, Brookline Capital Acquisition started coverage on shares of Kymera Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kymera Therapeutics has a consensus rating of “Buy” and a consensus target price of $74.88.
The stock’s fifty day moving average price is $59.35 and its 200-day moving average price is $50.92. The company has a market capitalization of $2.96 billion, a P/E ratio of -37.36 and a beta of 1.49.
In related news, CFO Bruce N. Jacobs sold 10,000 shares of the stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $60.12, for a total transaction of $601,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Nello Mainolfi sold 6,456 shares of the stock in a transaction that occurred on Monday, October 11th. The stock was sold at an average price of $53.68, for a total transaction of $346,558.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 431,563 shares of company stock worth $25,455,181. Insiders own 23.28% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its position in shares of Kymera Therapeutics by 60.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,430 shares of the company’s stock worth $69,000 after acquiring an additional 541 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Kymera Therapeutics in the second quarter valued at approximately $73,000. First Mercantile Trust Co. boosted its position in Kymera Therapeutics by 47.3% in the second quarter. First Mercantile Trust Co. now owns 1,728 shares of the company’s stock valued at $84,000 after buying an additional 555 shares in the last quarter. Royal Bank of Canada boosted its position in Kymera Therapeutics by 1,326.3% in the first quarter. Royal Bank of Canada now owns 2,282 shares of the company’s stock valued at $89,000 after buying an additional 2,122 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in Kymera Therapeutics by 168.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,267 shares of the company’s stock valued at $110,000 after buying an additional 1,422 shares in the last quarter. Institutional investors and hedge funds own 51.99% of the company’s stock.
About Kymera Therapeutics (NASDAQ:KYMR)
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 I clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis, and rheumatoid arthritis; IRAKIMiD program to treat MYD88-mutated diffuse large B cell lymphoma; and STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases.
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