Kymera Therapeutics Stock (NASDAQ:KYMR), Trade Ideas

Kymera Therapeutics

Kymera Therapeutics Inc is a biotechnology company pioneering a transformative new approach to treating previously untreatable diseases. The company is advancing the field of targeted protein degradation, accessing the body's innate protein recycling machinery to degrade dysregulated, disease-causing proteins. Kymera's Pegasus targeted protein degradation platform harnesses the body's natural protein recycling machinery to degrade disease-causing proteins, with a focus on un-drugged nodes in validated pathways currently inaccessible with conventional therapeutics. It is accelerating drug discovery with an unmatched ability to target and degrade intractable proteins and advance new treatment options for patients.

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Although U.S. stocks closed slightly higher on Monday, there were a few notable insider trades.

More Than $10M Bet On This Healthcare Stock? Check Out These 4 Stocks Insiders Are Buying

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Why CalAmp Shares Are Trading Lower By Around 32%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

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	Stifel raised the price target for  Hersha Hospitality Trust  (NYSE: HT) from $8.75 to $10. Stifel analyst Simon Yarmak downgraded the stock from Buy to Hold. Hersha Hospitality Trust shares fell 0.5% to $9.74 in pre-market trading.


Verizon To Rally Around 20%? Here Are 10 Other Analyst Forecasts For Tuesday

Kymera Therapeutics Inc

United Community Banks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCBI#NASDAQ">UCBI</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.49 by 6.12 percent. The company reported quarterly sales of $238.736 million which beat the analyst consensus estimate of $232.017 million by 2.90 percent. This is a 1.22 percent decrease over sales of $241.679 million the same period last year.

Earnings

Earnings Beats

UCBI

United Community Banks Q1 2024 Adj EPS $0.52 Beats $0.49 Estimate, Sales $238.736M Beat $232.017M Estimate

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has set a <a href="https://www.benzinga.com/news/large-cap/24/01/36686998/meta-platforms-zuckerberg-announces-major-ai-initiatives-7-things-you-need-to-know">goal of buying 350,000 Nvidia Corp.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H100 GPUs by 2024 to power its AI ambitions, but that was not Mark Zuckerberg's original intention.
What Happened: Zuckerberg revealed that Meta's massive $1 billion bet on Nvidia's H100 GPUs was originally meant to be used for a different product, not AI.
In a recent episode on Dwarkesh Patel's podcast, Zuckerberg spilled the beans on something previously unknown – those 350,000 Nvidia H100 GPUs were to help make Instagram Reels better, not to help make Meta a leading AI company.
See Also: <a href="https://www.benzinga.com/news/24/04/38358203/mark-zuckerberg-wont-just-open-source-instagrams-code-but-would-he-do-it-for-a-10b-ai-model-he-says">Mark Zuckerberg Won&#8217;t Just Open-Source Instagram&#8217;s Code But Would He Do It For A $10B AI Model? He Says, Well…</a>
But how did Zuckerberg even know Meta would need $1 billion worth of GPUs? Zuckerberg explains that Instagram Reels is what made the company take the plunge.
"It was because we were working on Reels."
He explains that Meta needed more GPUs to "train the models" behind Reels recommendations.
"We made this big push to start recommending what we call unconnected content," he added, explaining that this resulted in the number of recommendable Reels rising from thousands to "hundreds of millions."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Zuckerberg wanted to make Instagram Reels as addictive as TikTok, but Meta's infrastructure was proving to be the bottleneck.
"We have to make sure that's never an issue again, so let's order enough GPUs to do what we need to do on Reels." That's where the 350,000 Nvidia H100 GPUs come in.
Training large AI models like Llama was an unintended but fruitful coincidence for Meta, and Zuckerberg thinks it "ended up being a very good decision, in retrospect."
Why It Matters: Meta says that its latest AI model, <a href="https://www.benzinga.com/news/24/04/38330339/mark-zuckerbergs-meta-says-llama-3-beats-googles-gemini-mistral-and-jeff-bezos-backed-anthropics-cla">Llama 3, has outperformed</a> Alphabet Inc.'s Google Gemini, Anthropic's Claude 3, and Mistral AI's model.
The Llama 3 model, which comes in two sizes with 8B and 70B parameters, has shown significant improvements in text-based responses, including answering prompts and refusing fewer times.
This comes after Anthropic announced that <a href="https://www.benzinga.com/news/24/03/37481165/this-google-backed-ai-model-could-help-sundar-pichai-achieve-what-gemini-couldnt-beat-openais-gpt-4">Claude 3 outperformed</a> rivals like Microsoft Corp.-backed OpenAI's GPT-4.
Interestingly, Meta did not mention GPT-4 in its comparison, but OpenAI is expected to release a <a href="https://www.benzinga.com/news/24/03/37838131/openai-is-reportedly-gearing-up-to-release-a-significantly-better-gpt-5-by-mid-year">"significantly better"</a> GPT-5 model later this year.
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<iframe loading="lazy" title="Mark Zuckerberg - Llama 3, $10B Models, Caesar Augustus, &amp; 1 GW Datacenters" width="500" height="281" src="https://www.youtube.com/embed/bc6uFV9CJGg?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38398735/jeff-bezos-backed-perplexity-ai-is-now-a-unicorn-after-latest-fundraise-softbanks-masayoshi-son-nvid">Jeff Bezos-Backed Perplexity AI Is Now A Unicorn After Latest Fundraise: SoftBank&#8217;s Masayoshi Son, Nvidia &#8216;Doubled Down&#8217; On Support</a>
Photo courtesy: Shutterstock

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NVDA

Meta's Massive $1B Bet On Nvidia H100 GPU Cluster Will Dwarf Every Other Company's Target, But Zuckerberg Reveals Original Goal Was This, Not AI

AMZN

Nextech3D.ai Selects AWS As Its Primary Cloud Provider To Drive Innovation In The 3D Modeling For Ecommerce Industry

FirstService (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSV#NASDAQ">FSV</a>) reported quarterly earnings of $0.67 per share which missed the analyst consensus estimate of $0.73 by 8.22 percent. The company reported quarterly sales of $1.158 billion which beat the analyst consensus estimate of $1.124 billion by 3.02 percent. This is a 13.75 percent increase over sales of $1.018 billion the same period last year.

Earnings Misses

FirstService Q1 2024 Adj EPS $0.67 Misses $0.73 Estimate, Sales $1.158B Beat $1.124B Estimate

Lithia Motors, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) reported first-quarter FY24 sales growth of 23% year-on-year to $8.56 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38397562/lithia-driveway-lad-reports-record-first-quarter-revenue-of-8-6-billion-23-increase" rel="noreferrer noopener">beating the analyst consensus estimate of $8.54 billion</a>.
New vehicle&nbsp;same store&nbsp;units grew by 3.6 %. New vehicle retail revenues increased 22.4%&nbsp;Y/Y,&nbsp;and used vehicle retail revenues jumped 25.7%.
GreenCars monthly unique visitors (MUVs) increased by 71%, and Driveway Finance Corporation (DFC) originated approximately $493 million in loans.
Total vehicle gross profit per unit was $4,346. Gross profit rose 10.2% Y/Y to $1.3 billion, and the gross margin contracted 180 basis points to 15.6%.
Operating margin was 4%, and operating income for the quarter fell 9.9% to $341.4 million.
Adjusted EPS of $6.11&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">missed the analyst consensus of $7.89.</a>
Lithia held $440.5 million in cash and equivalents as of March-end. Operating cash flow for the quarter totaled $292.4 million.
Adjusted EBITDA decreased 11% to $361.5 million. Net debt grew 21.1% Y/Y to $3.86 billion as of March-end.
The Board of Directors approved a dividend of $0.53 per share, to be paid on May 24, to shareholders of record on May 10. Under the current share repurchase authorization, approximately $451.7 million remains available.
&#8220;Responding to market conditions, we are rebalancing our capital allocation from acquisitions toward returns to our shareholders, with the long-term target of delivering $2 in EPS per billion in revenues,&#8221; said President and CEO Bryan DeBoer.
Price Action: LAD shares traded lower by 3.55% at $255.10 premarket Wednesday.

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General

Why Is Lithia Motors Stock Sliding Today?

Oppenheimer analyst Jake Kooyman maintains Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) with a Outperform and raises the price target from $297 to $299.

Oppenheimer Maintains Outperform on Visa, Raises Price Target to $299

MDJH

MDJM Announced That Its Wholly Owned Subsidiary, Mansions Catering And Hotel, Has Entered Into A Collaboration With Miansu Sculpting Artist, Mingyuan Chen

WIIM

AT&T shares are trading higher, reversing from earlier weakness. The company reported mixed Q1 earnings but reiterated guidance above estimates.

AMST

Amesite shares are trading higher after the company announced the Beta release of its NurseMagic app.

PROG Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) reported quarterly earnings of $0.91 per share which beat the analyst consensus estimate of $0.82 by 10.98 percent. The company reported quarterly sales of $641.870 million which beat the analyst consensus estimate of $633.362 million by 1.34 percent. This is a 2.03 percent decrease over sales of $655.140 million the same period last year.

PROG Holdings Q1 2024 Adj EPS $0.91 Beats $0.82 Estimate, Sales $641.870M Beat $633.362M Estimate

Stock Yards Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYBT#NASDAQ">SYBT</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.81 by 8.64 percent. This is a 11.11 percent decrease over earnings of $0.99 per share from the same period last year.

SYBT

Stock Yards Bancorp Q1 EPS $0.88 Beats $0.81 Estimate

Oppenheimer analyst Scott Schneeberger maintains United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) with a Outperform and raises the price target from $153 to $157.

Oppenheimer Maintains Outperform on United Parcel Service, Raises Price Target to $157

Evotec shares are trading lower. The company reported FY23 financial results.

Guidance

Fortive Sees FY24 Adj. EPS $3.77-$3.86 Vs $4.17 Estimate

Oppenheimer analyst Rick Schafer maintains Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) from Perform to Perform.

Oppenheimer Maintains Perform on Texas Instrumentsto Perform

Health Care

Amesite Announces Beta Release Of Its NurseMagic App

Boeing Q1 Commercial Airplane Deliveries 83, Down 36% YoY

Oppenheimer analyst Colin Rusch maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) from Perform to Perform.

TSLA

Oppenheimer Maintains Perform on Teslato Perform

Biotech

ARWR

Arrowhead Pharmaceuticals Has Dosed The First Subjects In A Phase 1/2A Trial Of ARO-CFB, The Company's Investigational RNA Interference Therapeutic, In Up To 66 Healthy Volunteers And Patients With Complement Mediated Kidney Disease

M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) reported quarterly earnings of $4.78 per share which beat the analyst consensus estimate of $3.96 by 20.71 percent. This is a 31.32 percent increase over earnings of $3.64 per share from the same period last year. The company reported quarterly sales of $1.046 billion which beat the analyst consensus estimate of $1.005 billion by 4.06 percent. This is a 4.54 percent increase over sales of $1.001 billion the same period last year.

M/I Homes Q1 2024 GAAP EPS $4.78 Beats $3.96 Estimate, Sales $1.046B Beat $1.005B Estimate

TD Cowen analyst Marc Frahm has maintained their bullish stance on KYMR stock, giving a Buy rating on March 1. Marc Frahm has given his Buy rating ...

Promising Future for Kymera Therapeutics: Analyst Endorses 'Buy' on Innovative Protein Degradation Compounds

A rating of 68 puts Kymera Therapeutics Inc (KYMR) near the top of the Biotechnology industry according to InvestorsObserver. Kymera Therapeutics Inc's score of 68 means it scores higher than 68% of stocks in the industry. Kymera Therapeutics Inc also received an overall rating of 61, putting it above 61% of all stocks. Bi

Is Kymera Therapeutics Inc (KYMR) a Bad Choice in Biotechnology Tuesday?

Kymera Therapeutics Inc (KYMR) stock has risen 33.29% over the last 12 months, and the average rating from Wall Street analysts is a Buy. InvestorsObserver's proprietary ranking system, gives KYMR stock a score of  54 out of a possible 100. That rank is  influenced by a long-term technical score of 90. KYMR's rank also inc

Kymera Therapeutics Inc (KYMR) Stock Climbs 0.53% This Week; Should You Buy?

The 60 rating InvestorsObserver gives to Kymera Therapeutics Inc (KYMR)  stock puts it near the top of the Healthcare sector.In addition to scoring higher than 72 percent of stocks in the Healthcare sector, KYMR's 60 overall rating means the stock scores better than 60 of all stocks. KYMR has an Overall Score of 60. Find o

Can Kymera Therapeutics Inc (KYMR) Stock Rise to the Top of Healthcare Sector Friday?

The market has been down on Kymera Therapeutics Inc (KYMR)  stock recently. KYMR gets a Bearish score from InvestorsObserver Stock Sentiment Indicator. Kymera Therapeutics Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on KYMR!See Full KYMR ReportWhat is Stock Sentime

Where Will Kymera Therapeutics Inc (KYMR) Stock Go Next After It Has Fallen 4.45% in a Week?

InvestorsObserver is giving Kymera Therapeutics Inc (KYMR) an Analyst Rating Rank of 48, meaning KYMR is ranked higher by analysts than 48% of stocks. The average price target for KYMR is $48.461 and analystâ€&#x2122;s rate the stock as a Strong Buy. Wall Street analysts are rating KYMR a Strong Buy today.  Find out what this means

Analyst Rating: Will Kymera Therapeutics Inc (KYMR) Stock Do Better Than the Market?

Kymera Therapeutics Inc (KYMR) is around the middle of the Biotechnology industry according to InvestorsObserver. KYMR received an overall rating of 59, which means that it scores higher than 59 percent of all stocks. Kymera Therapeutics Inc also achieved a score of 66 in the Biotechnology industry, putting it above 66 per

Is Kymera Therapeutics Inc (KYMR) Stock at the Top of the Biotechnology Industry?

Kymera Therapeutics: Advancing Into Phase 2 With Partner Sanofi - I Still Have Faith

Catalyst Watch: Walgreens earnings, UPS analyst day and Xiaomi's luxury EV debut

A rating of 83 puts Kymera Therapeutics Inc (KYMR) near the top of the Healthcare sector according to InvestorsObserver.Kymera Therapeutics Inc's score of 83 means that it ranks higher than 83% of stocks in the sector. In addition, its overall score of 85 ranks it higher than 85% of all stocks. KYMR has an Overall Score of

Should You Add Kymera Therapeutics Inc (KYMR) Stock to Your Portfolio Tuesday?

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Press Releases

Kymera Therapeutics Announces Pricing of $275 Million Public Offering

Kymera Therapeutics Announces Closing of Upsized $275 Million Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares

Kymera Therapeutics Outlines Key 2024 Objectives and Strategy to Progress Leading Portfolio of Immunology and Oncology Programs

Management

INVO Bioscience Files S-4 Registration and Preliminary Joint Proxy Statements in Connection with Merger with NAYA Biosciences, NAYA Announces New Board Directors

Kymera Therapeutics to Present in Fireside Chat at the Guggenheim Healthcare Conference

Kymera Therapeutics to Report Fourth Quarter and Full Year 2023 Financial Results on February 22

Kymera Therapeutics Announces Fourth Quarter and Full Year 2023 Financial Results and Provides a Business Update

Kymera Therapeutics to Participate in Upcoming March Investor Conferences

Kymera Therapeutics Presents Preclinical Data for STAT6 and TYK2 First-In-Class, Oral Degrader Immunology Programs at the American Academy of Dermatology Annual Meeting

Kymera Therapeutics Announces Scientific Presentations at the American Association for Cancer Research 2024 Annual Meeting