Kymera Therapeutics Inc. (NASDAQ:KYMR) shares are trading higher by more than 21% on Thursday as the company has completed enrollment in its BROADEN2 Phase 2b trial for KT-621, a treatment for moderate to severe atopic dermatitis.
The news comes during a strong market day, with the S&P 500 gaining 0.3% and the healthcare sector, where Kymera operates, up 2.2%.
KYMR Stock Jumps On KT-621 Phase 2b BROADEN2 Milestone
Kymera has completed enrollment in the BROADEN2 trial nearly six months ahead of schedule, allowing for an accelerated topline data readout expected by year-end 2026.
The company plans to initiate Phase 3 trials for KT-621 by mid-2027, reflecting strong interest in this innovative treatment.
“With enrollment now complete, we are positioned to bring forward our expected topline data readout to this year as well as accelerate our planned Phase 3 initiation, subsequent readouts, and NDA filing,” said Nello Mainolfi, Founder, President, and CEO, Kymera Therapeutics.
KYMR Technical Outlook: Momentum Above Key Moving Averages
The stock’s current price of $121.03 is significantly above its moving averages, with the 20-day simple moving average (SMA) at $85.20, indicating a bullish trend.
The Relative Strength Index (RSI) is currently at 84.74, suggesting that the stock is in overbought territory, which could indicate a potential pullback in the near term.
- Key Resistance: $125.00 — This level is critical as it aligns with recent swing highs and could act as a barrier to further upward movement.
- Key Support: $90.00 — This support level is significant as it is near the 20-day EMA, providing a potential cushion against downward pressure.
How KYMR Ranks On Momentum Versus The Market
Below is the Benzinga Edge scorecard for Kymera Therapeutics, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 91.55) — Stock is outperforming the broader market.
The Verdict: Kymera Therapeutics’ Benzinga Edge signal reveals a strong momentum-driven story, indicating that the stock is currently performing well compared to its peers.
KYMR ETF Exposure: Funds With The Biggest Weights
- Harbor Human Capital Factor US Small Cap ETF (NYSE:HAPS): 1.82% Weight
- ALPS Medical Breakthroughs ETF (NYSE:SBIO): 4.16% Weight
KYMR Price Action: Kymera Therapeutics shares were up 15.81% at $115.65 at the time of publication on Thursday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
Photo via Shutterstock
Recent Comments