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

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company raised Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $38.00 to $57.00 in a report on Monday, December 2nd. Leerink Partners reissued an “outperform” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Friday, December 27th. Truist Financial reissued a “buy” rating and issued a $53.00 price objective (down from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Morgan Stanley raised their price target on Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Finally, UBS Group cut their price target 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. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.38.

Kymera Therapeutics Trading Up 0.8 %

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

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results 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 firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $10.34 million. During the same quarter last year, the firm posted ($0.90) EPS. The company’s revenue was down 20.9% on a year-over-year basis. Sell-side analysts forecast that Kymera Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kymera Therapeutics 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 owns 54,826 shares in the company, valued at approximately $2,288,985.50. This trade 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 the SEC website. Corporate 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 modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its position in shares of Kymera Therapeutics by 1.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 40,987 shares of the company’s stock worth $1,649,000 after buying an additional 684 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Kymera Therapeutics by 212.6% during the 3rd 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 during the period. Franklin Resources Inc. lifted its position in shares of Kymera Therapeutics by 35.1% during the 3rd 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 period. Wellington Management Group LLP lifted its position in shares of Kymera Therapeutics by 7.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock worth $218,587,000 after buying an additional 308,954 shares during the period. Finally, Quarry LP bought a new position in shares of Kymera Therapeutics during the 3rd quarter worth approximately $95,000.

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.