Kymera Therapeutics (NASDAQ:KYMR) Shares Down 13.9% After Earnings Miss

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price dropped 13.9% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $31.47 and last traded at $30.46. Approximately 928,308 shares traded hands during mid-day trading, an increase of 84% from the average daily volume of 504,309 shares. The stock had previously closed at $35.36.

The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.12). Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The firm had revenue of $7.39 million during the quarter, compared to analyst estimates of $14.81 million.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KYMR. BMO Capital Markets started coverage on Kymera Therapeutics in a report on Friday, December 6th. They set a “market perform” rating and a $55.00 target price for the company. Leerink Partners reissued an “outperform” rating and set a $60.00 target price on shares of Kymera Therapeutics in a research report on Friday, December 27th. UBS Group cut their target price on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. Finally, Morgan Stanley lifted their price target on Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.69.

Insider Buying and Selling

In other Kymera Therapeutics news, insider Ellen Chiniara sold 3,129 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $41.75, for a total transaction of $130,635.75. Following the transaction, the insider now owns 54,826 shares of the company’s stock, valued at approximately $2,288,985.50. This represents a 5.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.82% of the stock is owned by company insiders.

Institutional Trading of Kymera Therapeutics

Large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Kymera Therapeutics by 74.8% during the 4th quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in Kymera Therapeutics by 9.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company’s stock worth $198,000 after acquiring an additional 406 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Kymera Therapeutics by 27.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock worth $114,000 after acquiring an additional 504 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Kymera Therapeutics by 1.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 40,987 shares of the company’s stock worth $1,649,000 after acquiring an additional 684 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Kymera Therapeutics by 53.8% during the fourth quarter. KBC Group NV now owns 2,151 shares of the company’s stock worth $87,000 after purchasing an additional 752 shares during the period.

Kymera Therapeutics Stock Down 0.0 %

The company’s fifty day moving average price is $39.21 and its 200 day moving average price is $43.82. The company has a market capitalization of $1.96 billion, a P/E ratio of -13.04 and a beta of 2.18.

About Kymera Therapeutics

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.