Kymera Therapeutics (NASDAQ:KYMR) Shares Gap Down – Here’s What Happened

Shares of Kymera Therapeutics, Inc. (NASDAQ:KYMR) gapped down before the market opened on Thursday . The stock had previously closed at $47.67, but opened at $44.75. Kymera Therapeutics shares last traded at $46.18, with a volume of 55,106 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KYMR. Guggenheim upped their target price on Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley lifted their target price on Kymera Therapeutics from $34.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Wolfe Research raised shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Monday, August 26th. B. Riley lifted their price objective on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company increased their target price on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.15.

Kymera Therapeutics Trading Up 0.6 %

The company has a market cap of $2.87 billion, a P/E ratio of -19.20 and a beta of 2.21. The company has a 50 day moving average price of $47.04 and a 200-day moving average price of $40.65.

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.01. Kymera Therapeutics had a negative return on equity of 28.88% and a negative net margin of 178.27%. The firm had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $10.34 million. During the same quarter in the previous year, the business posted ($0.90) earnings per share. The business’s revenue for the quarter was down 20.9% on a year-over-year basis. Equities analysts expect that Kymera Therapeutics, Inc. will post -2.85 earnings per share for the current year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total transaction of $651,780.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Pamela Esposito sold 13,500 shares of Kymera Therapeutics stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total transaction of $651,780.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.10, for a total value of $245,500.00. The disclosure for this sale can be found here. 15.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of hedge funds have recently modified their holdings of KYMR. Ameritas Investment Partners Inc. raised its position in Kymera Therapeutics by 7.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock worth $164,000 after purchasing an additional 295 shares during the last quarter. Comerica Bank raised its position in shares of Kymera Therapeutics by 13.7% during the first quarter. Comerica Bank now owns 3,324 shares of the company’s stock worth $134,000 after acquiring an additional 400 shares during the last quarter. Keudell Morrison Wealth Management lifted its stake in shares of Kymera Therapeutics by 7.2% in the second quarter. Keudell Morrison Wealth Management now owns 7,105 shares of the company’s stock worth $212,000 after acquiring an additional 480 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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. Finally, Principal Financial Group Inc. raised its holdings in Kymera Therapeutics by 4.7% during the 1st quarter. Principal Financial Group Inc. now owns 12,098 shares of the company’s stock worth $486,000 after purchasing an additional 547 shares during the last quarter.

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.