Kymera Therapeutics (NASDAQ:KYMR) Trading Down 6.2% – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price was down 6.2% during mid-day trading on Tuesday . The company traded as low as $31.70 and last traded at $31.61. Approximately 160,447 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 513,364 shares. The stock had previously closed at $33.70.

Analyst Upgrades and Downgrades

KYMR has been the subject of several analyst reports. BTIG Research started coverage on Kymera Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $60.00 target price for the company. Wells Fargo & Company raised Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $38.00 to $57.00 in a research report on Monday, December 2nd. Citigroup started coverage on shares of Kymera Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $52.00 price target for the company. HC Wainwright lifted their price target on Kymera Therapeutics from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, BMO Capital Markets initiated coverage on Kymera Therapeutics in a research report on Friday, December 6th. They set a “market perform” rating and a $55.00 target price on the stock. 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 company’s stock. Based on data from MarketBeat.com, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $56.36.

Kymera Therapeutics Trading Down 0.6 %

The business has a 50 day moving average price of $36.29 and a 200-day moving average price of $42.00. The firm has a market capitalization of $1.96 billion, a PE ratio of -12.91 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data 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). The firm had revenue of $7.39 million during the quarter, compared to analysts’ expectations of $14.81 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. On average, equities research analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In related news, COO Jeremy G. Chadwick sold 1,383 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.45, for a total transaction of $42,112.35. Following the transaction, the chief operating officer now owns 67,800 shares of the company’s stock, valued at approximately $2,064,510. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bruce N. Jacobs sold 7,035 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.45, for a total value of $214,215.75. Following the completion of the sale, the chief financial officer now directly owns 201,886 shares in the company, valued at approximately $6,147,428.70. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,788 shares of company stock worth $455,202 over the last three months. 15.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in Kymera Therapeutics by 3.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,870,333 shares of the company’s stock worth $276,395,000 after buying an additional 224,859 shares during the period. Wellington Management Group LLP increased its holdings in Kymera Therapeutics by 14.9% in 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 in the last quarter. Avoro Capital Advisors LLC raised its position in Kymera Therapeutics by 14.4% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company’s stock valued at $207,184,000 after purchasing an additional 650,000 shares during the period. FMR LLC lifted its stake in shares of Kymera Therapeutics by 5.8% during the third quarter. FMR LLC now owns 5,109,141 shares of the company’s stock worth $241,816,000 after purchasing an additional 282,301 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Kymera Therapeutics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,887,312 shares of the company’s stock worth $196,617,000 after buying an additional 133,546 shares during the period.

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.