Kymera Therapeutics (NASDAQ:KYMR) Trading Down 6.3% – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares traded down 6.3% during mid-day trading on Thursday . The stock traded as low as $40.48 and last traded at $40.82. 310,860 shares were traded during mid-day trading, a decline of 41% from the average session volume of 528,117 shares. The stock had previously closed at $43.56.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KYMR. BTIG Research began coverage on Kymera Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $60.00 price objective for the company. Wells Fargo & Company raised Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $38.00 to $57.00 in a research note on Monday, December 2nd. UBS Group decreased their price objective on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Leerink Partners reissued an “outperform” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research note on Friday, December 27th. Finally, Truist Financial reissued a “buy” rating and issued a $53.00 target price (down from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, thirteen 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 $55.38.

Kymera Therapeutics Price Performance

The firm has a 50-day moving average of $43.06 and a 200 day moving average of $44.29. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -17.35 and a beta of 2.19.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data 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 24.96% and a negative net margin of 191.26%. The company had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $10.34 million. During the same period last year, the firm posted ($0.90) earnings per share. The business’s revenue was down 20.9% on a year-over-year basis. On average, equities analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In other news, 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 of the company’s stock, valued at $2,288,985.50. This trade represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 15.82% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

A number of large investors have recently made changes to their positions in the company. FMR LLC increased 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 during the period. Wellington Management Group LLP increased its stake in shares of Kymera Therapeutics by 7.2% during the third quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock worth $218,587,000 after purchasing an additional 308,954 shares during the period. Jennison Associates LLC increased its stake in shares of Kymera Therapeutics by 85.8% during the third quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock worth $37,754,000 after purchasing an additional 368,394 shares during the period. Eventide Asset Management LLC increased its stake in shares of Kymera Therapeutics by 9.9% during the third quarter. Eventide Asset Management LLC now owns 507,902 shares of the company’s stock worth $24,039,000 after purchasing an additional 45,803 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Kymera Therapeutics by 11.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 453,377 shares of the company’s stock worth $21,458,000 after purchasing an additional 47,507 shares during the period.

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.