Kymera Therapeutics (NASDAQ:KYMR) Trading Down 6.9% – Here’s Why

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price dropped 6.9% during mid-day trading on Wednesday . The stock traded as low as $19.66 and last traded at $19.59. Approximately 312,285 shares were traded during trading, a decline of 42% from the average daily volume of 537,310 shares. The stock had previously closed at $21.05.

Wall Street Analyst Weigh In

KYMR has been the topic of a number of analyst reports. Citigroup began 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. Leerink Partners reiterated an “outperform” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Friday, December 27th. BTIG Research began coverage on Kymera Therapeutics in a report on Tuesday, December 10th. They issued a “buy” rating and a $60.00 target price 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, Stephens reissued an “overweight” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.36.

Kymera Therapeutics Trading Up 14.2 %

The firm has a market cap of $1.56 billion, a P/E ratio of -10.27 and a beta of 2.22. The stock’s fifty day moving average is $32.88 and its two-hundred day moving average is $40.46.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $14.81 million. On average, analysts forecast that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In related news, insider Ellen Chiniara sold 2,241 shares of the company’s 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 transaction, the insider now directly owns 80,085 shares in the company, valued at approximately $2,438,588.25. The trade was a 2.72 % 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, CFO Bruce N. Jacobs sold 7,035 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 $214,215.75. Following the completion of the transaction, the chief financial officer now directly owns 201,886 shares in the company, valued at approximately $6,147,428.70. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,659 shares of company stock worth $324,567 over the last three months. 15.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC bought a new stake in Kymera Therapeutics in the third quarter valued at $494,000. Franklin Resources Inc. raised its holdings in Kymera Therapeutics by 35.1% in the third quarter. Franklin Resources Inc. now owns 29,440 shares of the company’s stock worth $1,356,000 after buying an additional 7,647 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Kymera Therapeutics by 212.6% in the third quarter. JPMorgan Chase & Co. now owns 140,491 shares of the company’s stock worth $6,649,000 after buying an additional 95,547 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 during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Kymera Therapeutics by 74.8% during the fourth quarter. Blue Trust Inc. now owns 631 shares of the company’s stock valued at $25,000 after buying an additional 270 shares during the last quarter.

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.