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

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KYMR. Leerink Partners reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a research report on Friday, December 27th. HC Wainwright raised their target price on Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 28th. BMO Capital Markets initiated coverage on Kymera Therapeutics in a report on Friday, December 6th. They set a “market perform” rating and a $55.00 price target for the company. Citigroup initiated coverage on shares of Kymera Therapeutics in a report on Thursday, March 13th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $60.00 target price 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.36.

Kymera Therapeutics Price Performance

The firm has a market capitalization of $1.71 billion, a P/E ratio of -11.26 and a beta of 2.22. The firm has a fifty day simple moving average of $34.88 and a two-hundred day simple moving average of $41.37.

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 analysts’ consensus estimates of ($0.76) by ($0.12). The business 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, research analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its holdings in shares of Kymera Therapeutics by 12.6% during the fourth quarter. California State Teachers Retirement System now owns 36,839 shares of the company’s stock worth $1,482,000 after purchasing an additional 4,131 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Kymera Therapeutics in the 4th quarter worth approximately $4,610,000. GF Fund Management CO. LTD. bought a new position in shares of Kymera Therapeutics in the 4th quarter worth $55,000. Woodline Partners LP raised its position in shares of Kymera Therapeutics by 2.3% during the 4th quarter. Woodline Partners LP now owns 537,428 shares of the company’s stock valued at $21,621,000 after buying an additional 12,334 shares in the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of Kymera Therapeutics during the 4th quarter worth $236,000.

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.