Kymera Therapeutics (NASDAQ:KYMR) Reaches New 52-Week Low – Here’s Why

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) hit a new 52-week low on Monday . The stock traded as low as $26.99 and last traded at $28.23, with a volume of 32523 shares. The stock had previously closed at $29.62.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KYMR shares. Wells Fargo & Company raised shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $38.00 to $57.00 in a research report on Monday, December 2nd. BMO Capital Markets assumed coverage on Kymera Therapeutics in a research report on Friday, December 6th. They issued a “market perform” rating and a $55.00 target price on the stock. HC Wainwright boosted their price target on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 28th. BTIG Research assumed coverage on Kymera Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $60.00 price target for the company. Finally, Stephens reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kymera Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

Kymera Therapeutics Stock Performance

The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -11.76 and a beta of 2.22. The stock’s fifty day moving average is $35.86 and its two-hundred day moving average is $41.75.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share 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 business had revenue of $7.39 million for the quarter, compared to analyst estimates of $14.81 million. Sell-side analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Buying and Selling at Kymera Therapeutics

In other news, COO Jeremy G. Chadwick sold 1,383 shares of Kymera Therapeutics stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $42,112.35. Following the completion of the transaction, the chief operating officer now directly owns 67,800 shares of the company’s stock, valued at approximately $2,064,510. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ellen Chiniara sold 3,129 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $2,288,985.50. This trade represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,788 shares of company stock worth $455,202 over the last quarter. 15.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Kymera Therapeutics by 14.9% during the 4th quarter. Wellington Management Group LLP now owns 5,307,326 shares of the company’s stock valued at $213,514,000 after purchasing an additional 688,967 shares during the period. Avoro Capital Advisors LLC grew its holdings in Kymera Therapeutics by 14.4% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company’s stock worth $207,184,000 after buying an additional 650,000 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Kymera Therapeutics during the 4th quarter valued at $23,856,000. Boxer Capital Management LLC acquired a new position in Kymera Therapeutics during the 4th quarter worth $17,098,000. Finally, Janus Henderson Group PLC grew its stake in shares of Kymera Therapeutics by 2,397.9% in the fourth quarter. Janus Henderson Group PLC now owns 377,384 shares of the company’s stock worth $15,197,000 after purchasing an additional 362,276 shares in the last quarter.

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.