Kymera Therapeutics, Inc. (NASDAQ:KYMR) Sees Significant Decrease in Short Interest

Kymera Therapeutics, Inc. (NASDAQ:KYMR) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 8,810,000 shares, a decline of 7.2% from the September 15th total of 9,490,000 shares. Based on an average trading volume of 503,400 shares, the days-to-cover ratio is currently 17.5 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on KYMR. B. Riley upped their target price on Kymera Therapeutics from $31.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Leerink Partners reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research note on Monday, September 9th. Wolfe Research raised Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Monday, August 26th. Wells Fargo & Company upped their target price on Kymera Therapeutics from $30.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Leerink Partnrs raised Kymera Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

Insider Transactions at Kymera Therapeutics

In other news, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.10, for a total transaction of $245,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.10, for a total transaction of $245,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela Esposito sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The disclosure for this sale can be found here. Corporate insiders own 15.82% of the company’s stock.

Institutional Trading of Kymera Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in KYMR. Comerica Bank increased its holdings in shares of Kymera Therapeutics by 13.7% during the 1st quarter. Comerica Bank now owns 3,324 shares of the company’s stock worth $134,000 after buying an additional 400 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Kymera Therapeutics during the 2nd quarter worth $139,000. Quest Partners LLC increased its holdings in Kymera Therapeutics by 1,402.0% in the 2nd quarter. Quest Partners LLC now owns 5,212 shares of the company’s stock valued at $156,000 after purchasing an additional 4,865 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Kymera Therapeutics by 7.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock valued at $164,000 after purchasing an additional 295 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Kymera Therapeutics in the 2nd quarter valued at $201,000.

Kymera Therapeutics Stock Performance

Shares of KYMR opened at $49.02 on Thursday. The company has a market capitalization of $3.01 billion, a PE ratio of -19.53 and a beta of 2.21. The stock has a fifty day moving average of $46.27 and a two-hundred day moving average of $39.76. Kymera Therapeutics has a fifty-two week low of $9.60 and a fifty-two week high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.10. The business had revenue of $25.60 million during the quarter, compared to the consensus estimate of $12.55 million. Kymera Therapeutics had a negative return on equity of 28.88% and a negative net margin of 178.27%. The business’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.67) EPS. As a group, equities research analysts forecast that Kymera Therapeutics will post -2.85 earnings per share for the current fiscal year.

About Kymera Therapeutics

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 II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.