Kymera Therapeutics (NASDAQ:KYMR) Shares Down 6.7% – Here’s What Happened

Kymera Therapeutics, Inc. (NASDAQ:KYMR)’s share price fell 6.7% during mid-day trading on Friday . The company traded as low as $42.86 and last traded at $42.86. 150,856 shares traded hands during trading, a decline of 74% from the average session volume of 586,785 shares. The stock had previously closed at $45.94.

Analysts Set New Price Targets

KYMR has been the subject of a number of recent analyst reports. 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 research report on Wednesday, November 6th. Leerink Partnrs upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Guggenheim lifted their price objective on shares of Kymera Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their target price on Kymera Therapeutics from $30.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Oppenheimer lifted their price target on Kymera Therapeutics from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned 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 $51.21.

Kymera Therapeutics Trading Down 5.3 %

The stock has a fifty day moving average price of $47.24 and a 200 day moving average price of $41.57. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -18.47 and a beta of 2.21.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.01. The firm had revenue of $3.74 million for 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 business’s quarterly revenue was down 20.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.90) EPS. On average, sell-side analysts forecast that Kymera Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In other news, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.10, for a total transaction of $245,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela Esposito sold 13,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total transaction of $651,780.00. The disclosure for this sale can be found here. Insiders own 15.82% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Hedge funds have recently modified their holdings of the stock. Values First Advisors Inc. bought a new position in shares of Kymera Therapeutics during the third quarter valued at $61,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Kymera Therapeutics by 27.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock valued at $114,000 after buying an additional 504 shares in the last quarter. Comerica Bank boosted its position in Kymera Therapeutics by 13.7% in the first quarter. Comerica Bank now owns 3,324 shares of the company’s stock valued at $134,000 after buying an additional 400 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Kymera Therapeutics during the second quarter worth about $139,000. Finally, Quest Partners LLC increased its holdings in shares of Kymera Therapeutics by 1,402.0% during the second quarter. Quest Partners LLC now owns 5,212 shares of the company’s stock worth $156,000 after buying an additional 4,865 shares in 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.