Kymera Therapeutics, Inc. (KYMR) Moves 9.6% Higher: Will This Strength Last?
Kymera Therapeutics, Inc. (KYMR) shares ended the last trading session 9.6% higher at $26.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.9% loss over the past four weeks.
The price surge can be attributed to the company's recent recent update regarding the completion of dosing in the part C cohort of its phase I study evaluating its lead candidate, KT-474, for treating hidradenitis suppurativa (HS) or atopic dermatitis (AD). Kymera also stated that it is currently continuing its phase I dose escalation studies of its candidates, KT-413 and KT-333, and expects to file an IND for KT-253 before 2022 ends.
This company is expected to post quarterly loss of $0.69 per share in its upcoming report, which represents a year-over-year change of -23.2%. Revenues are expected to be $16.42 million, down 19.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Kymera Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on KYMR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Kymera Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, DBV Technologies S.A. (DBVT), closed the last trading session 0.6% higher at $1.65. Over the past month, DBVT has returned -24.4%.
DBV Technologies S.A.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.16. Compared to the company's year-ago EPS, this represents a change of +27.3%. DBV Technologies S.A. currently boasts a Zacks Rank of #3 (Hold).
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