Kymera Therapeutics (NASDAQ:KYMR) Shares Down 6.3% – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price traded down 6.3% during trading on Thursday . The stock traded as low as $40.48 and last traded at $40.82. 310,860 shares changed hands during trading, a decline of 41% from the average session volume of 528,117 shares. The stock had previously closed at $43.56.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KYMR shares. Wells Fargo & Company raised Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $57.00 in a research note on Monday, December 2nd. Morgan Stanley boosted their price objective on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. BMO Capital Markets initiated coverage on shares of Kymera Therapeutics in a research report on Friday, December 6th. They set a “market perform” rating and a $55.00 target price for the company. UBS Group cut their price target on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Guggenheim raised their price objective on shares of Kymera Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.38.

Kymera Therapeutics Stock Performance

The stock has a 50-day moving average of $43.45 and a 200 day moving average of $44.25. The firm has a market capitalization of $2.62 billion, a P/E ratio of -17.28 and a beta of 2.19.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.01. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $10.34 million. During the same quarter in the prior year, the business earned ($0.90) earnings per share. The business’s revenue for the quarter was down 20.9% on a year-over-year basis. On average, equities analysts predict that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ellen Chiniara sold 3,129 shares of Kymera Therapeutics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $41.75, for a total value of $130,635.75. Following the completion of the sale, the insider now directly owns 54,826 shares of the company’s stock, valued at approximately $2,288,985.50. This trade represents a 5.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.82% of the company’s stock.

Institutional Trading of Kymera Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in shares of Kymera Therapeutics in the 3rd quarter valued at about $61,000. Quarry LP bought a new position in Kymera Therapeutics in the third quarter valued at approximately $95,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Kymera Therapeutics by 27.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock valued at $114,000 after acquiring an additional 504 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Kymera Therapeutics during the 2nd quarter worth $139,000. Finally, Integrated Advisors Network LLC bought a new stake in shares of Kymera Therapeutics during the 3rd quarter valued at $294,000.

Kymera Therapeutics Company Profile

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.