Kymera Therapeutics (NASDAQ:KYMR) Trading Down 6.1% – Here’s What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price was down 6.1% on Tuesday . The stock traded as low as $26.17 and last traded at $25.71. Approximately 75,375 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 522,388 shares. The stock had previously closed at $27.37.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KYMR shares. Leerink Partners reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Kymera Therapeutics in a research note on Friday, December 27th. HC Wainwright raised their price target on Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. BTIG Research assumed coverage on Kymera Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $60.00 price objective for the company. Citigroup assumed coverage on shares of Kymera Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Stephens reiterated an “overweight” rating and set a $60.00 price target on shares of Kymera Therapeutics in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Kymera Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $56.36.

Kymera Therapeutics Price Performance

The firm has a market capitalization of $1.71 billion, a PE ratio of -11.26 and a beta of 2.22. The firm has a 50-day simple moving average of $34.88 and a 200-day simple moving average of $41.37.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The business had revenue of $7.39 million during the quarter, compared to analysts’ expectations of $14.81 million. Equities analysts expect that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ellen Chiniara sold 2,241 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total value of $68,238.45. Following the completion of the sale, the insider now directly owns 80,085 shares of the company’s stock, valued at $2,438,588.25. This represents a 2.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bruce N. Jacobs sold 7,035 shares of Kymera Therapeutics stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $214,215.75. Following the transaction, the chief financial officer now owns 201,886 shares in the company, valued at approximately $6,147,428.70. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,788 shares of company stock valued at $455,202. 15.82% of the stock is owned by company insiders.

Institutional Trading of Kymera Therapeutics

Several institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in shares of Kymera Therapeutics by 74.8% in the fourth quarter. Blue Trust Inc. now owns 631 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. State of Wyoming bought a new stake in shares of Kymera Therapeutics in the 4th quarter worth about $45,000. GF Fund Management CO. LTD. purchased a new stake in shares of Kymera Therapeutics during the 4th quarter valued at about $55,000. KBC Group NV lifted its holdings in shares of Kymera Therapeutics by 53.8% in the 4th quarter. KBC Group NV now owns 2,151 shares of the company’s stock valued at $87,000 after acquiring an additional 752 shares during the last quarter. Finally, Quarry LP purchased a new position in Kymera Therapeutics in the third quarter worth about $95,000.

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.