Kymera Therapeutics (NASDAQ:KYMR) Hits New 1-Year Low on Disappointing Earnings

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shares hit a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $29.22 and last traded at $29.98, with a volume of 1722609 shares trading hands. The stock had previously closed at $35.36.

The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $7.39 million for the quarter, compared to the consensus estimate of $14.81 million.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $53.00 price target (down previously from $54.00) on shares of Kymera Therapeutics in a report on Friday, November 1st. Morgan Stanley increased their price objective on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Stephens reissued an “overweight” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Tuesday, January 21st. HC Wainwright increased their price objective on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Finally, 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. Three research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.69.

Insider Buying and Selling at Kymera Therapeutics

In other news, insider Ellen Chiniara sold 3,129 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $41.75, for a total transaction of $130,635.75. Following the completion of the sale, the insider now directly owns 54,826 shares in the company, valued at $2,288,985.50. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 15.82% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Kymera Therapeutics by 11.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 453,377 shares of the company’s stock worth $21,458,000 after buying an additional 47,507 shares during the period. Eventide Asset Management LLC increased its position in shares of Kymera Therapeutics by 9.9% during the third quarter. Eventide Asset Management LLC now owns 507,902 shares of the company’s stock worth $24,039,000 after buying an additional 45,803 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Kymera Therapeutics during the third quarter worth $650,000. JPMorgan Chase & Co. increased its position in shares of Kymera Therapeutics by 212.6% during 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 during the period. Finally, Natixis Advisors LLC acquired a new stake in shares of Kymera Therapeutics during the third quarter worth $681,000.

Kymera Therapeutics Price Performance

The company’s 50-day moving average price is $39.02 and its two-hundred day moving average price is $43.74. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -13.40 and a beta of 2.18.

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.