Kymera Therapeutics (NASDAQ:KYMR) Trading Down 6.3% – Time to Sell?

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s stock price dropped 6.3% during trading on Thursday . The stock traded as low as $40.48 and last traded at $40.82. Approximately 310,860 shares changed hands during mid-day trading, a decline of 41% from the average daily 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. Morgan Stanley increased their price target on Kymera Therapeutics from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. BTIG Research began 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. Stephens initiated coverage on shares of Kymera Therapeutics in a research note on Monday, November 18th. They issued an “overweight” rating and a $65.00 price target for the company. UBS Group cut their price target on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Wells Fargo & Company raised shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $57.00 in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.38.

Kymera Therapeutics Trading Down 7.2 %

The firm’s 50-day simple moving average is $43.45 and its 200 day simple moving average is $44.25. The stock has a market cap of $2.62 billion, a P/E ratio of -17.28 and a beta of 2.19.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.01. The business had revenue of $3.74 million during the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The company’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.90) earnings per share. On average, analysts anticipate that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, insider Ellen Chiniara sold 3,129 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were 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 approximately $2,288,985.50. This represents a 5.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kymera Therapeutics by 27.5% in the 3rd 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 in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Kymera Therapeutics by 1.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 40,987 shares of the company’s stock valued at $1,649,000 after buying an additional 684 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Kymera Therapeutics by 8.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,289 shares of the company’s stock valued at $534,000 after buying an additional 915 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Kymera Therapeutics in the third quarter worth approximately $61,000. Finally, Arizona State Retirement System lifted its position in Kymera Therapeutics by 15.6% in the 2nd quarter. Arizona State Retirement System now owns 12,830 shares of the company’s stock worth $383,000 after buying an additional 1,730 shares in 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.