Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares fell 4% during mid-day trading on Friday . The stock traded as low as $49.02 and last traded at $49.88. 12,364 shares traded hands during trading, a decline of 96% from the average session volume of 335,181 shares. The stock had previously closed at $51.95.
Several research firms have issued reports on KYMR. Berenberg Bank began coverage on shares of Kymera Therapeutics in a report on Wednesday, April 14th. They set a “buy” rating on the stock. Morgan Stanley decreased their price objective on shares of Kymera Therapeutics from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 18th. Finally, UBS Group assumed coverage on shares of Kymera Therapeutics in a report on Thursday, May 20th. They set a “buy” rating and a $80.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.00.
The firm has a 50 day moving average price of $42.53. The firm has a market capitalization of $2.26 billion and a PE ratio of -15.57.
In related news, CFO Bruce N. Jacobs sold 8,195 shares of the firm’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $60.17, for a total transaction of $493,093.15. Following the completion of the sale, the chief financial officer now directly owns 1,805 shares in the company, valued at $108,606.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nello Mainolfi sold 22,794 shares of the firm’s stock in a transaction dated Friday, April 9th. The stock was sold at an average price of $33.68, for a total transaction of $767,701.92. Following the sale, the chief executive officer now owns 386,138 shares of the company’s stock, valued at $13,005,127.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,323 shares of company stock valued at $4,549,493. 23.28% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new stake in Kymera Therapeutics during the first quarter worth about $47,000. Exane Derivatives acquired a new stake in shares of Kymera Therapeutics during the first quarter valued at about $51,000. Citigroup Inc. acquired a new stake in shares of Kymera Therapeutics during the fourth quarter valued at about $126,000. Nisa Investment Advisors LLC acquired a new stake in shares of Kymera Therapeutics during the fourth quarter valued at about $130,000. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of Kymera Therapeutics during the first quarter valued at about $84,000. Hedge funds and other institutional investors own 50.62% 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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