Kymera Therapeutics (NASDAQ:KYMR) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $114.90 and traded as high as $119.68. Kymera Therapeutics shares last traded at $117.57, with a volume of 827,856 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley boosted their target price on Kymera Therapeutics from $135.00 to $146.00 and gave the stock an “overweight” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Kymera Therapeutics in a report on Thursday, October 15th. Guggenheim raised their price target on Kymera Therapeutics from $135.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 31st. Wolfe Research upgraded Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Thursday, September 10th. Finally, Bank of America upped their price objective on Kymera Therapeutics from $123.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.12.

Kymera Therapeutics Stock Up 2.4%

The firm’s 50-day moving average is $114.90 and its 200 day moving average is $95.60.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.09. The business had revenue of $65.00 million for the quarter, compared to analysts’ expectations of $32.78 million. During the same quarter last year, the business posted ($0.95) earnings per share. The business’s revenue was up 465.2% compared to the same quarter last year. As a group, analysts anticipate that Kymera Therapeutics, Inc. will post -3.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Nello Mainolfi sold 30,000 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $113.80, for a total value of $3,414,000.00. Following the completion of the transaction, the chief executive officer directly owned 666,568 shares of the company’s stock, valued at $75,855,438.40. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian Adams sold 6,371 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $116.83, for a total value of $744,323.93. Following the completion of the transaction, the insider directly owned 50,254 shares of the company’s stock, valued at approximately $5,871,174.82. This trade represents a 11.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 15.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Kymera Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KYMR. BlackRock Inc. purchased a new position in Kymera Therapeutics in the 2nd quarter valued at about $635,067,000. Merck & Co. Inc. acquired a new position in shares of Kymera Therapeutics during the 2nd quarter valued at about $88,544,161. Bank of America Corp DE acquired a new position in Kymera Therapeutics during the second quarter worth approximately $43,378,000. Braidwell LP raised its position in shares of Kymera Therapeutics by 12.0% in the 2nd quarter. Braidwell LP now owns 378,163 shares of the company’s stock worth $43,364,000 after buying an additional 40,604 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Kymera Therapeutics by 2.5% in the 1st quarter. Jennison Associates LLC now owns 508,999 shares of the company’s stock worth $42,395,000 after purchasing an additional 12,334 shares during the period.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins through targeted protein degradation. Its approach is designed to use the cell’s natural protein-disposal system to remove proteins that may be difficult to address with conventional drug modalities.

The company’s research and development programs have targeted a range of disease areas, including immune-mediated and inflammatory conditions, cancer, and other serious illnesses.